King & Wood Mallesons (KWM) has helped an energy company add to its growing presence in Western Australia.
KWM advised AGL Energy on its acquisition of Perth Energy, which was described as the state’s third-largest electricity retailer, for up to $93m.
Perth Energy sells electricity and gas to businesses in WA. It also owns and operates a 120MW gas-fired peaking power station in Kwinana. Perth Energy is 80% owned by Infratil, a New Zealand-based listed infrastructure fund, and 20% owned by Hoperidge Enterprises and other minority owners.
Partner Tim Edwards, who’s based in Perth, headed the KWM team, with support from solicitor Lucius Moser. Tax matters were handled by partner Richard Snowden and special counsel Judith Taylor.
With the acquisition, AGL increases its already growing presence in WA, Edwards said.