DUBAI, Sept 17 (Reuters) - Abu Dhabi National Oil Company's international investment arm XRG said on Wednesday that an investor group it was leading had withdrawn an indicative $18.7 billion offer to buy Australian gas producer Santos (STO.AX) , opens new tab.

The consortium, led by XRG alongside Abu Dhabi sovereign fund ADQ and private equity firm Carlyle, will not make a binding offer for Santos, XRG said in a statement, capping a months-long takeover saga.

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Santos did not immediately respond to a request for comment.

https://www.reuters.com/business/energy/adnoc-led-consortium-pulls-bid-australias-santos-2025-09-17/