“In essence, the way XRG works is that any transaction – and Santos is obviously a hugely important one given the whole strategic backdrop to XRG’s creation in the first place – needs sign-off by one man, Sultan Al-Jaber,” says Mark Kelly, the CEO of London-based MKP Advisors, which advises investor clients on complex event-driven situations.
“There’s key-man risk there for sure, and until he signs off, anything can happen.”
Published by and image courtesy of Australian Financial Review