Allens has advised Meridian Energy Limited (Meridian) on the $740 million sale of its Australian-based electricity generation assets and retail business, Powershop.
Meridian is New Zealand’s largest electricity generator and is dual listed on the Australian Securities Exchange and the New Zealand Exchange.
‘We are pleased to have advised Meridian on the sale of the Australian portion of its electricity generation and retail business. After a competitive bid process, Shell Energy Operations acquired Meridian’s electricity retailer Powershop, while Infrastructure Capital Group acquired its wind farms, hydropower stations and other development assets,’ said lead M&A partner .
‘This transaction is another example of the strong interest we are seeing in portfolios of Australian renewable energy assets and energy retail businesses,’ said Energy Sector Head .
‘Allens has had a very long association with Meridian and its Australian operations and we are delighted for them on this outcome.’
