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Pacific Energy shares acquired by OPTrust and Capital Group
King & Wood Mallesons has assisted in the acquisition of Pacific Energy by OPTrust and Capital Group.
Naomi Neilson
Firm: King & Wood Mallesons (OPTrust and Capital Group)
Value: $470 million.
Area: Proposal.
Key players: The KWM team was led by partners David Friedlander and Heath Lewis and assisted by senior associate Caitlin Sharp. Support was also provided by Gemma McMahon, Alex Elser, Will Stawell, Zoe Anderson and Emma Warner.
Deal significance: The proposal from OPTrust consortium values Pacific Energy at a $1.085 per share, with a total offer price of $470 million. It is the second bid made for Pacific Energy since July.
Commenting on the transaction, Mr Lewis said: “The firm has acted extensively for OPTrust on a number of strategic and significant acquisitions, including in the last year on its minority buyout of SkyBus and its acquisition of Transport Australia Group.
“On this occasion, we are very pleased to have been able to work with OPTrust and Infrastructure Capital Group to help them achieve their objectives and bring their bid to fruition and to have assisted with providing Pacific Energy and its shareholders with an attractive alternative.”
Naomi Neilson
Naomi Neilson is a senior journalist with a focus on court reporting for Lawyers Weekly.
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