Four global firms have acted in the sale of the Loy Yang B Power Station in Victoria.
Herbert Smith Freehills (HSF), Gilbert + Tobin (G+T), Allen & Overy (A&O), and King & Wood Mallesons were involved in the deal. The 1,000MW coal-fired power station, which supplies nearly 20% of the state’s power needs, was sold to Alinta Energy by Engie and Mitsui & Co for $1.2bn.
HSF acted for Chow Tai Fook Enterprises (CTFE), the owner of Alinta, on the acquisition. Alinta has long been a client of HSF, with the firm advising Alinta’s former owners on the sale of the company to CTFE.
G+T advised CTFE on the financing of the acquisition. A&O acted for CTFE on Australian Competition and Consumer Commission and foreign investment matters.
KWM advised Engie and Mitsui & Co. on the sale of its asset.
The HSF team was led by partner Robert Nicholson. He was assisted by partner Nick Baker, executive counsel Michelle Palethorpe, senior associates Claire Thompson and Brodie Same, and solicitors Lily Zhang and Madeleine Miller.
G+T’s team was led by partners John Schembri and David Kirkland, who were supported by lawyers Corrie Eames, Jessica Kim, and Felix Buddee.
A&O’s team was headed by partners Aaron Kenavan and Peter McDonald.
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