Origin Energy: Acted for Origin in relation to a joint venture with ConocoPhillips to form Australia Pacific LNG, (a 50:50 CSG to LNG joint venture). Origin received an upfront payment of US$5 billion (A$6.9 billion) from ConocoPhillips and future benefits include a A$1.15 billion free carry and four potential bonus payments of US$500 million each.
Origin Energy: Acted for Origin on the acquisition of the Energy21 gas retail business from the Victorian Government for approximately $450 million.
Origin Energy: Acted for Origin on the A$1.202 billion acquisition of Sun Retail which was a competitive tender run by the State of Queensland. The vendor was ENERGEX, a State-owned company. As well as acting on the purchase, the firm advised Origin on the debt facilities, underwritten placement (by way of a bookbuild) and share purchase plan used to fund the acquisition.
Origin Energy: Acted on the spin-off of its gas distribution assets, which involved the sale of those assets to the newly floated special purpose Envestra Limited in which Origin took a 19.9 percent interest and with which Origin had a significant ongoing contractual relationship. This ongoing relationship included an operating and maintenance agreement prepared by Graham. The matter was the first separation of retail and distribution businesses in either gas or electricity in Australia.
Pacific National (a subsidiary of the ASX listed Asciano group): Acted in the negotiation and preparation of innovative coal haulage agreements with Rio Tinto Coal Australia and Xstrata Coal. Pacific National has committed $529 million in capital investment in support of the project. When the coal haulage arrangements are successfully concluded it will make Pacific National the first new entrant to the Queensland coal haulage market.
Xstrata: Acted on the acquisition of the Australian and South African coal businesses of Glencore International AG. The purchase price of US$2.5 billion was comprised of cash and Xstrata shares. The cash element of the consideration was partly satisfied by a global offer of ordinary shares which raised £840million. In addition, funds were provided by a new US$1.4 billion credit facility, which was used to refinance Xstrata's existing debts and to provide ongoing working capital.
Consortium of southern NSW coal producers: Acted for the consortium, including subsidiaries of BHP, Rio Tinto and Shell in relation to the privatisation, on a long-term lease basis, of the Port Kembla Coal Terminal.
