29 November 2006
Sydney, 29 November 2006: Clayton Utz has advised leading natural gas and electricity supplier Origin Energy on its successful bid to acquire Sun Retail Pty Ltd from the Queensland Government following a competitive tender process.
The Queensland Government confirmed this week that Origin Energy will acquire Sun Retail for A$1.202 billion. Sun Retail carries on a mass market retail business, with approximately 833,000 electricity customers, a wholesale electricity business and an LPG marketing and distribution business.
Energy & Resources partner Graham Taylor led the Clayton Utz team that advised Origin Energy throughout the tender process, including on its subsequent A$400 million underwritten placement by way of bookbuild and related debt facilities.
In a national and cross-practice effort, solicitors from the Sydney, Brisbane and Melbourne offices were called upon to lend their expertise to the deal. The core members of the team included partners Leah Chick, Barry Dunphy, Linda Evans, Dan Howard, Paul O'Donnell, Andrew Smith and Luci Mumme, senior associates Rob Shilkin, Sian Thomas and solicitors Kate Bowman, Paul Burton, Sally Coleman, Tania Chahine, Hilary Hurrell, Lauren Roscoe, Dora Stilianos and Dana Wintermantel.
Graham Taylor said the firm was pleased to have assisted Origin Energy on its successful bid. "We are proud to have been involved in such a significant deal for Origin Energy, a long-standing client of the firm's and one whose business continues to go from strength to strength. We look forward to continuing to work with Origin in the future."
