Aug 19 (Reuters) - Australian oil and gas producer Santos (STO.AX) , opens new tab said on Tuesday that Abu Dhabi's National Oil Company (ADNOC)-led international consortium will not be able to finalise an $18.7 billion takeover bid before the extended August 22 deadline.

The consortium, led by ADNOC's investment arm XRG, alongside Abu Dhabi Development Holding Company (ADQ) and private equity firm Carlyle, told Santos it would need at least four more weeks to secure all required approvals.

Sign up here.

"The XRG Consortium has indicated that these approvals are expected to take four weeks to obtain, assuming an expedited process and potentially longer without", from when the scheme terms are agreed upon, Santos said.

However, discussions are underway with the consortium on the proposal, it added.

The transaction, if completed, would give XRG stakes in major operations across Australia and Papua New Guinea. However, Santos's position as a key energy firm in Australia poses regulatory challenges to the deal.

Meanwhile, Santos said it will defer its interim earnings report to August 25 from August 20. Shares of the company fell more than 3% to A$7.68, a more than five-week low.

https://www.reuters.com/business/energy/australias-santos-flags-delay-finalising-adnoc-led-offer-beyond-august-22-2025-08-19/