Mergers & Acquisitions

Competitive Acquisition of 100% of Southern Hydro, Victorian Privatisation, Australia

In late 1997, Morrison & Co advised a consortium led by Infratil Australia Limited and comprising Contact Energy and UniSuper, on the successful acquisition of Southern Hydro for AUD391 million. Morrison & Co’s role included:

• Arrangement and negotiation of consortium terms;
• Valuation, accounting for scheduling flexibility, the structure of Victorian pool prices and comprehensive revenue forecasting;
• Valuation of the acquisition and arrangement of non-recourse financing;
• Arrangement of the shareholder agreements for the special purpose vehicle;
• Bid preparation; and
• Project management of all technical, legal and accounting due diligence advisors.