22 Feb 2019

Media Release: Clayton Utz and Origin Energy teams help power $58 million OC Energy deal

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.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.