Sydney, 22 February 2019: Clayton Utz is pleased to have advised Origin Energy on its acquisition of OC Energy, announced to the market on 15 February 2019.
Clayton Utz partner Samy Mansour, together with core team members, partners Emma Covacevich, Simon Brady, Michael Corrigan and Faith Taylor, as well as senior associate Andrew Lassman and lawyers Qasim Rasool and Michael Beukelman, worked closely with Origin's in-house team on the transaction.
Samy commented: "We are delighted to act for Origin Energy on this transaction, which will expand its centralised energy services business, primarily in New South Wales and Victoria."
Under the deal terms, Origin Energy will pay $58 million comprising an upfront payment of $33 million and deferred payments of $25 million. The acquisition is expected to complete this quarter.
Mills Oakley acted for the shareholders of OC Energy.