QIC enters into Scheme Implementation Deed with Pacific Energy Limited
Pacific Energy has announced that it has entered into a Scheme Implementation Deed (SID) under which QGIF Swan Bidco Pty Ltd., a subsidiary of funds managed or advised by QIC Private Capital Pty Ltd (QIC), will acquire Pacific Energy for a total consideration of AUD0.975 (US$0.66) per share by way of a Scheme of Arrangement.
QIC’s offer has the unanimous support of the Pacific Energy Board and remains subject to various conditions including approval by Pacific Energy's shareholders.
In the absence of a superior proposal and subject to the independent expert concluding the transaction is in the best interests of Pacific Energy's shareholders.
QIC is also working on emerging opportunities on the Eastern seaboard through Pacific Energy Victorian Hydro and NovaPower.
Pacific Energy owns and maintains a portfolio approaching 400 MW of gas, diesel and hydro fuelled electricity generation under long term contracts.
Shareholders will have the opportunity to vote on the takeover in October. If approved, it would be implemented in November.
Country updates
-
-
August 15, 2019
New South Wales issues planning permit to 110 MW Orange Grove Solar Farm
Independent Planning Commission of New South Wales has granted planning approval to the development of Overland Sun Farming’s 110 MW Orange Grove Sun Farm. The AUD94 million (US$63.86 million)...
Read more -
August 14, 2019
310 MW hybrid renewable energy project approved in Australia
A 310 MW hybrid renewable energy project proposed by Neoen has been given the approval by the South Australia state government. Located around 23 km southeast of Port Pirie and 3 km north of the town...
Read more -
August 14, 2019
Kennedy Energy Park in Queensland connects to grid
The 60.5 MW Kennedy Energy Park which consists of wind, solar, and energy storage projects has been connected to the grid in Northern Queensland. The energy park consists of 43.2...
Read more -
August 14, 2019
RATCH acquired 70% stake of Alinta's 214 MW Yandin wind farm in Australia
RATCH Group Public Company Ltd has announced its acquisition of a 70 % equity stake in the 214 MW Yandin Wind Farm in Australia. The deal was made by its wholly-owned subsidiary, RATCH-Australia...
Read more -
August 13, 2019
100 MW Playford Utility Battery project in Australia gains development approval
SIMEC Energy Australia, a member of Sanjeev Gupta’s global GFG Alliance, has received Development Approval for the 100 MW Playford Utility Battery which will be built just outside of Port August...
Read more
