Oil and gas supermajor enters Australian electricity industry with Ashurst's help

The company is buying the second-largest electricity retailer to commercial and industrial customers in Australia

Oil and gas supermajor enters Australian electricity industry with Ashurst's help

An oil and gas supermajor is entering the Australian electricity industry with Ashurst’s help.

The leading law firm has advised Shell Energy Australia on its proposed acquisition of 100% of ERM Power, said to be the second-largest electricity retailer to commercial and industrial customers in Australia. The company also owns and operates two gas-fired power plants.

The deal, reported to be worth $617m, is unanimously recommended by the ERM board. Founding and major shareholder Trevor St Baker has also said that he intends to vote in favour of the proposed members' scheme of arrangement, in the absence of a superior bid and subject to an independent expert concluding that the scheme is in the best interests of ERM shareholders.

The Ashurst team was led by corporate partner John Brewster, with support from partners Lynda Tully, John Sartori, Nick Terry, and Bruce Macdonald; counsel Eliza Blandford; associates Stephanie Mattei and Adam Ong; and graduate John Saunders.

Partners Robert Jamieson, Paul Newman, and Dan Brown; senior associates Tristan Shepherd and Natalie Barris; and associates Danielle Davidson, Duncan Knowles, and Ainsley Masek provided corporate projects advice.

Partner Madeleine de Garis and associate Bonnie Kwok advised on financing. Partner Alyssa Phillips, senior associate John McKellar, and associate Anna Glen advised on competition. Financial regulation advice was provided by partner Corey McHattan. Associate Rebecca Lew advised on dispute matters.

Shell’s legal team was headed by M&A associate counsel Peter Lorbeer.

Recent articles & video

HSF pitches in on industry-first deal

SA Supreme Court orders sale of family land despite resident brother’s objections

KWM supports Suncorp on capital raising effort

G+T represents lender group on $1.4bn debt facilities for Kelsian Group

Thomson Reuters unveils generative AI-supported legal research platform

New partner commences at Piper Alderman

Most Read Articles

MinterEllison partnership balloons after nine promotions

Lucky seven promoted to partner at Lander & Rogers

Allens guides Morgan Stanley in landmark infrastructure deal

New chair takes the lead at Barry Nilsson