The sale "comes at an appropriate time in the energy transition period that Australia is now undergoing," partner says
Norton Rose Fulbright (NRF) has helped energy management solutions provider Landis+Gyr divest its entire stake in utility services company Intellihub Operations.
The transaction is valued at $310m and is presently subject to several closing conditions. Upon completion, Intellihub will be jointly owned by global asset manager Brookfield Infrastructure Partners and private markets fund manager Pacific Equity Partners.
NRF partner Adam Edelman led the M&A team on the transaction, with assistance from senior associate Michael Phillips, associate Andrew Cho, and lawyer Ellen Pen. The team worked closely with Landis+Gyr GCs Holger Klafs and Nikolina Regan.
“We are pleased to have assisted Landis+Gyr with this transaction,” Edelman said. “Our client’s investment has been a great success over the last few years, but its divestment comes at an appropriate time in the energy transition period that Australia is now undergoing.”
“We look forward to Landis+Gyr’s continuing expansion into the smart infrastructure, grid edge intelligence and smart metering sector,” he added.
Previously, NRF took part in several significant corporate M&A transactions, including the $16bn merger between TPG Telecom Limited and TPG Corporation Limited that was hailed as the largest M&A transaction in 2020 and one of the biggest in the Australian telecommunications industry.
