Seven Group Holdings Confirms Stake Purchase in Adelaide Based Beach Energy

Seven Group Holdings (SGH) on Monday confirmed it has bought 13.79 percent in Adelaide, South Australia based Beach Energy Limited.

“We believe Beach Energy is well managed and has strong assets that are well-placed for increasing future energy demand. Seven Group Holdings’ investment in Beach Energy is consistent with its strategy of participating in high quality energy opportunities that will add shareholder value,” Seven Group Holdings MD & CEO Don Voelte said.

 SGH is a leading Australian diversified operating and investment group with market leading businesses in industrial services and media.

Australian Securities Exchange listed Beach Energy has a core focus on the resource-rich Cooper Basin with gross acreage of over 56,000 km2.