Global firm DLA Piper is advising power generation specialist Pacific Energy on its scheme of arrangement with QIC Private Capital, which will see QIC acquire 100% of Pacific Energy valued at $422m.
Pacific Energy currently owns and operates 40 power stations that deliver low-cost “off-grid” power supply to the Australian resources sector, as well as “grid-connected” renewable hydro and gas power. Its services are delivered through five operating subsidies.
The DLA Piper team is being led by corporate partners Michael Bowen and Stefan Luke, with special counsel Hedley Roost and solicitor Kirsty Hall.
"This transaction reflects Pacific Energy's position as a market leading energy supplier to the mining industry in Western Australia, and the opportunities emerging from their growing east coast presence,” said Bowen. “We are pleased to be advising long-standing client, Pacific Energy, on this transformational transaction.”
UBS and Sternship Advisers are acting as financial advisers to Pacific Energy.