Herbert Smith Freehills has advised Origin Energy on its agreement to sell the Mortlake Terminal Station to AusNet Transmission, the current operator of the station, for A$110 million.
The sale of the Mortlake Terminal Station, which connects Origin’s 550MW gas-fired Mortlake Power Station to Victoria’s electricity transmission system, is the first of a series of infrastructure asset sales by Origin Energy as part of an asset divestment program announced in September 2015.
The Herbert Smith Freehills team was led by partner David Ryan, with significant involvement from executive counsel Peter Davis and senior associate Kris Percy.
Peter Davis commented: ‘We are delighted to help Origin Energy deliver on the first stage of its asset divestment process. Despite the Mortlake Terminal Station being subject to some extremely complex contractual and regulatory arrangements, the deal was successfully executed in a very short timeframe.
Origin was also advised by Bank of America Merrill Lynch. AusNet was advised by Gilbert + Tobin
Herbert Smith Freehills has recently advised on a number of other significant infrastructure asset sales including advising: