Mergers & Acquisitions

Investment & Divestment in EnergyDirect, New Zealand

Morrison & Co advised Enerco on its mergers and acquisition strategy which led to the NZD50 million on-market acquisition of 20% of EnergyDirect following the Company’s initial listing.

EnergyDirect was the largest electricity distribution company in the Wellington region. Morrison & Co’s role included:

• Development of the acquisition strategy;
• Valuation of EnergyDirect;
• Running the share purchasing programme; and
• Developing the on-going strategy for Enerco with respect to the acquisition, which resulted in the sale of Enerco’s shareholding for a substantial capital profit.