Five firms act on A$1.4bn energy company takeover
Norton Rose Fulbright, Ashurst and Allens have all secured roles on the cross-border energy deal
July 23, 2015 at 07:15 AM
2 minute read
Norton Rose Fulbright, Allens and Ashurst are among the firms that have been appointed to advise on asset manager Duet Group's A$1.4bn (£661m) acquisition of Energy Development Limited (EDL).
Norton Rose is acting for the buyer with a cross-border team led by global energy head Simon Currie and including partners in Australia, Europe and the US.
The firm is advising on the US and European aspects of the deal with partners Wasim Khan and Catrina Smith in London, head of power and alternative energy Patrick Groomes in Washington DC and partner Dimitris Assimakis in Athens.
Linklaters associate firm Allens is acting for Duet on the Australian aspects of the deal led by funds partner Marc Kemp, alongside corporate partner Stuart McCulloch, banking partner Alan Maxton and employment partner Veronica Siow.
The firm is also advising on matters relating to electricity, gas, environment and property.
Ashurst is acting for Duet on stamp duty, fielding corporate partner Sarah Dulhunty, while Sidley Austin is providing US law advice on the deal.
Currie said: "This transaction reflects the move away from the traditional model of large generating units connected to pipeline and grid infrastructure, which meet the bulk of the load, to a decentralised model where customers will often meet their requirements onsite or from local resources."
EDL has turned to Gilbert + Tobin, which is fielding a corporate team headed by partner Hiroshi Narushima and including lawyers Nirangjan Nagarajah, Wendy Hsu and Jennifer Mulheron.
The deal is expected to close in October this year.
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