Herbert Smith Freehills is delighted to have advised AGL Energy Limited (AGL) on its acquisition of 100% of the shares in Click Energy Group Holdings Pty Limited (Click Energy) from amaysim Australia Limited (amaysim) for A$115 million (the Transaction).
Completion of the Transaction occurred on 30 September 2020.
The Transaction aligns with AGL’s growth strategy and leverages the investment made in customer service platforms, and is another step towards AGL achieving its target of 4.5 million customer services by FY24. The acquisition includes more than 215,000 energy services to customers, increasing AGL’s total services provided to almost 4.2 million services to homes and businesses across Australia and building on the strong growth achieved in FY20.
The Herbert Smith Freehills team was led by partners Philippa Stone and Nicole Pedler, and supported by lawyers across a range of practice groups in the firm’s Australian offices.
This includes Corporate senior associate Lizzie Lu and solicitors Jennie Bian and Scott Preswick; Corporate Energy partner Nick Baker, senior associate Madeleine Miller and solicitor Alex Marks; Competition partner Liza Carver and senior associates Paul Burton and Patrick Clark; TMT partner Kwok Tang, senior associate Kirk Boladeras and solicitors Tony Cooke, Kristie Ho, Thomas Gooch and graduate Nayan Bhathela; IP special counsel Amalia Stone and solicitor Samuel Gonski; Finance partner John Angus, senior associate Peter Ip and solicitor Rob Allen; Employment partner Michael Gonski, senior associate Rommo Pandit and graduates Jessica Lau and Aadidev; Insurance special counsel Philip Hopley; Financial Services special counsel Steven Rice and solicitor Guy Spielman; Disputes partner Leon Chung and solicitor Winsome Hall; and Real Estate partner Nicholas Cowie and solicitor Matthew Bennett.
The Herbert Smith Freehills team worked closely with the AGL Corporate Development team, including Bopha Ly, Head of Corporate Development, Amanda Liu, Group Counsel – Corporate Development & Company Secretariat, Ryan Ratilal, Senior Corporate Lawyer – Corporate Development & Secretariat and Atanas Chernev, Manager Corporate Development.
Herbert Smith Freehills partner Philippa Stone said, "I am delighted that the Herbert Smith Freehills team supported AGL in another successful transaction, following the recent acquisition by AGL of Southern Phone Company Limited on which Herbert Smith Freehills also advised. AGL has been a valued client for many years and we are proud to be involved."
Herbert Smith Freehills partner Nicole Pedler added, "We are proud to have assisted AGL in a milestone transaction, which will assist the company in its growth strategy. It is always a pleasure to work alongside the AGL team and we look forward to continuing to work with them in the future."