HSF guides Origin Energy through planned $18.7bn sale to consortium

The watershed deal is set to speed up the decarbonisation of the country's energy grid

HSF guides Origin Energy through planned $18.7bn sale to consortium

Herbert Smith Freehills (HSF) has guided Origin Energy through its planned $18.7bn sale to a consortium comprising Brookfield Asset Management, Brookfield partners and investors GIC and Temasek, and MidOcean Energy.

The firm said that the deal is among the biggest public M&A transactions of the past year. It is set to speed up the decarbonisation of the country’s energy grid, bringing Australia closer to the achievement of net zero.

Under the scheme implementation deed Origin Energy, Brookfield and MidOcean have entered into, 100% of Origin Energy’s shares will be acquired via scheme of arrangement.

Brookfield and MidOcean are set to establish distinct energy markets and integrated gas businesses that will aid in transitioning Australia to net zero. The transaction has received support from Origin Energy shareholders as well as the market.

HSF chair and senior partner Rebecca Maslen-Stannage headed up the firm’s team alongside partner Malika Chandrasegaran. They received support from senior associates Mia Harrison-Kelf and Sam Moran, as well as solicitors Danielle Farrell, Jack Fox and Georgie Juszczyk.

The Origin Energy team, along with GC Kate Jordon, collaborated with the HSF team in working on the deal.

“It has been a pleasure to work with the Origin team on this exciting and market-leading transaction. We have been very impressed by the highly strategic and practical approach, and resilience, of the Origin team, and we look forward to continuing to work with them as they complete the transaction”, Maslen-Stannage said.

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