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Origin Energy advised on sale of smart metering business
Origin Energy had been advised on the sale, by competitive bid, of its Acumen smart metering business to intelliHUB.
Jerome Doraisamy
Firm: Hive Legal (Origin Energy); Baker McKenzie and Clayton Utz (intelliHUB joint venture).
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Deal: Hive advised Origin on the sale of Acumen, its smart metering business, to intelliHUB, which is to be jointly owned by Pacific Equity Partners and Landis + Gyr.
Value: $267 million.
Area: Corporate.
Key players: The Hive team was led by principals Jeremy Snow, Andrew Brookes and Joanna Green.
Deal significance: “Hive’s team is excited to have acted on these arrangements,” the firm noted in a statement.
“They represent a significant development in the competitive metering market in Australia’s National Electricity Market, following major metering regulatory reforms which came into effect in December 2017.”
