Russell McVeagh confirms role in major Australasian energy sector sale

by Sol Dolor06 Oct 2017
Russell McVeagh has confirmed its role in a billion-dollar trans-Tasman energy sector deal.

The top firm is acting on purchase of Lattice Energy by Beach Energy from Origin Energy for A$1.59bn. The came after initial plans for an IPO were scuttled.

Lattice is Origin’s conventional upstream oil and gas production business. It has interests in major gas projects in both Australia and New Zealand.

Russell McVeagh is the New Zealand legal adviser for Origin. Partner Mei Fern Johnson and senior associate Gareth Worthington worked on the sale. Partner David Raudkivi worked on the New Zealand securities law aspects of the deal when the transaction continued under its dual track.

NZ Lawyer earlier reported that Gilbert + Tobin and Chapman Tripp are Beach’s legal advisers in Australia and New Zealand, respectively. Herbert Smith Freehills is Origin’s Australian legal adviser.

Under the terms of the sale, the deal will have an effective date of 1 July. However, the transaction is still subject to approvals by the Overseas Investment Office and the Minister of Energy and Resources.

Related stories:
AU, NZ firms join forces in major trans-Tasman acquisition
Firm promotes property expert to partner