Hive Legal powers $267m sale of smart metering business

The firm acted on the competitive bid process and negotiating long-term service agreements that were part of the deal

Hive Legal powers $267m sale of smart metering business

Hive Legal has advised Origin Energy in its sale of Acumen, its smart metering business, for $267m.

The unit, launched by the company as an in-house digital metering business eight years ago, was sold to intelliHUB, which is jointly owned by investment manager Pacific Equity Partners and Swiss energy company Landis+Gyr.

Hive Legal’s team was led by principals Jeremy Snow, Andrew Brookes, and Joanna Green. As part of the sale process, they advised on business and sale structure, regulatory and data issues, evaluation of bids, and preparation and negotiation of the transaction documents.

Hive Legal also negotiated a suit of long-term metering service agreements, which were part of the deal.

The acquisition represents a significant development in the competitive metering market in Australia’s National Electricity Market, following major metering regulatory reforms that came into effect last December, Hive Legal said.

 

Related stories:
Top firms act in metering business sale
Global firms advise on Aussie-first power purchase agreement

 

Recent articles & video

Lander & Rogers announces historic commitment to global net-zero emissions target

Mills Oakley brings in Thornton Storgato Law team

Hamilton Locke acts for Pangolin Associates on majority sale

Clifford Chance expands global energy and infrastructure practice

Owen Hodge Lawyers partner on fashion tips from Miranda Priestly and career progression

Allens advises joint lead managers and underwriter on 29Metals $151m capital raise

Most Read Articles

The top employers in Australia's legal profession for 2023

Former HSF partner joins Clifford Chance in Sydney

Owen Hodge Lawyers partner on fashion tips from Miranda Priestly and career progression

Lander & Rogers announces historic commitment to global net-zero emissions target