Herbert Smith Freehills has advised Alinta Energy owner, Chow Tai Fook Enterprises (CTFE) on the acquisition of the 1,000MW Loy Yang B Power Station located in Victoria.

The Herbert Smith Freehills team was led by Partner Robert Nicholson with support from Partner Nick Baker, Executive Counsel Michelle Palethorpe, Senior Associates Claire Thompson and Brodie Same and Solicitors Lily Zhang and Madeleine Miller.

Robert Nicholson said, “We were delighted to be able to assist Alinta to acquire this highly strategic, low cost, reliable and long life asset.”

Partners John Schembri and David Kirkland of Gilbert + Tobin advised CTFE in relation to financing of the acquisition and Partners Aaron Kenavan and Peter McDonald of Allen & Overy advised CTFE on ACCC and foreign investment matters. King & Wood Mallesons advised Engie in Australia, International Power and Mitsui & Co., Ltd on the sale. Lazard acted as financial advisor to CTFE and Rothschild & Co acted as financial advisor to Engie in Australia, International Power and Mitsui & Co., Ltd.

This deal is another example of Herbert Smith Freehills’ market-leading work in the energy sector. Other recent examples include:

• Origin Energy on the sale of its conventional upstream oil & gas business Lattice Energy to Beach Energy for $1.585b
• an equity participant (bcIMC) in the Advance Energy consortium, which acquired Endeavour Energy (the final asset in the NSW Government’s ‘poles and wires’ privatisation process)
• the former owners of Alinta Energy Pty Ltd on the sale of the company to CTFE
• IFM Investors and AustralianSuper in their successful unsolicited proposal for the acquisition of Ausgrid from the NSW Government