Russell McVeagh acts on major trans-Tasman energy transaction

Russell McVeagh has acted on the A$1.585b trans-Tasman deal that will see the conventional upstream oil and gas production business of Origin Energy, Lattice Energy, acquired by Australasian oil and gas company Beach Energy. Russell McVeagh has acted on the sell-side for Origin Energy, with the company agreeing to sell Lattice Energy after revising earlier plans for an initial public offering (IPO). As part of the sale, Origin has secured access to a significant portion of Lattice Energy’s future east coast gas production under long-term gas supply agreements to support its domestic gas business. Russell McVeagh partner Mei Fern Johnson , together with senior associate Gareth Worthington , acted for Origin in the sale. Russell McVeagh partner David Raudkivi led the workstream on the New Zealand securities law aspects of the IPO process while the transaction continued under its dual track. Of the deal Mei Fern Johnson said: "It is a privilege to be working collaboratively alongside Origin on this significant transaction which, together with the ongoing supply of gas and LPG, will allow Origin to retain the benefits of its integrated business model." The transaction is subject to certain conditions and regulatory approvals by the Overseas Investment Office and the Minister of Energy and Resources, and under the terms of the sale, will have an effective date of 1 July 2017. Russell McVeagh is at the forefront of New Zealand's major transactions and widely recognised as New Zealand's market leader. The deal is another example of the firm's role in the country's most significant and complex deals.

Russell McVeagh acts on major trans-Tasman energy transaction

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