Ashurst has advised EnergyAustralia Investments Pty Ltd (EnergyAustralia), member of the EnergyAustralia group, on its A$205million purchase of all the issued shares in Ecogen Energy Pty Ltd.
Ashurst has advised EnergyAustralia Investments Pty Ltd (EnergyAustralia), member of the EnergyAustralia group, on its A$205million purchase of all the issued shares in Ecogen Energy Pty Ltd.
Ecogen owns two gas power stations in Victoria, the Newport Power Station in Melbourne and the Jeeralang Power Station in the Latrobe Valley, which have a combined capacity of 950MW. This represents approximately 9% of Victoria's total generation capacity.
The acquisition of the Jeeralang and Newport power stations helps to secure EnergyAustralia's generation capacity and provides its retail electricity business with an important hedge against movements in the wholesale electricity price
The transaction required both ACCC and FIRB approval, with the ACCC clearing the transaction after targeted market enquiries in December 2017.
EnergyAustralia currently provides Ecogen with all of its fuel and is entitled to substantially all of its output under a Fuel Supply Agreement and Master Hedging Agreement. These agreements are due to expire on 30 April 2019.
Ashurst has advised EnergyAustralia on the deal with a team led by partner Kylie Lane (picture), assisted by counsel Lynda Tully, lawyers Ryan Kabat and Lizzie Bird (Corporate); partner Jeff Lynn, senior associates Sophie Osborn and Jo Slater (Environment); partner Jane Harvey and senior associate Abigail Cooper (Employment); partner Kellech Smith and counsel Emma Butler (IP/TMT); Jason Cornwall-Jones, senior associate Gaby Stach and lawyer Jake Saccardo (Property); partner Peter Armitage, counsel Justin Jones, lawyer Melissa Barnwell, Jack Heithersay and Roderick Kennedy (Competition); partner Kenneth Nguyen (Global Loans), and partners Geoffrey Mann and Ian Kellock; with senior associate Bronwyn Kirkwood (Tax).
Herbert Smith Freehills has advised IFM Investors on the sale with a team led by partner David Ryan, alongside partners Nick Baker, Robert Nicholson, Miles Wadley and Matthew Bull, senior associate Bailee Walker and lawyers Kai Ito, Michael Trent and Dinisi Sirimanne.
Professionisti coinvolti: David Ryan - Herbert Smith Freehills; Nick Baker - Herbert Smith Freehills; Robert Nicholson - Herbert Smith Freehills; Bailee Walker - Herbert Smith Freehills; Kai Ito - Herbert Smith Freehills; Michael Trent - Herbert Smith Freehills; Miles Wadley - Herbert Smith Freehills; Matthew Bull - Herbert Smith Freehills; Dinisi Sirimanne - Herbert Smith Freehills; Kylie Lane - Ashurst; Lynda Tully - Ashurst; Ryan Kabat - Ashurst; Lizzie Bird - Ashurst; Jeff Lynn - Ashurst; Sophie Osborn - Ashurst; Jo Slater - Ashurst; Jane Harvey - Ashurst; Abigail Cooper - Ashurst; Kellech Smith - Ashurst; Emma Butler - Ashurst; Jason Cornwall-Jones - Ashurst; Gaby Stach - Ashurst; Jake Saccardo - Ashurst; Peter Armitage - Ashurst; Justin Jones - Ashurst; Melissa Barnwell - Ashurst; Jack Heithersay - Ashurst; Roderick Kennedy - Ashurst; Kenneth Nguyen - Ashurst; Geoffrey Mann - Ashurst; Ian Kellock - Ashurst; Bronwyn Kirkwood - Ashurst;
Studi legali: Herbert Smith Freehills; Ashurst;
Clienti: IFM Investors Pty Ltd; EnergyAustralia;
