Pacific Equity Partners led a consortium that included OPSEU Pension Trust and an entity controlled by Infrastructure Capital Services to successfully acquire 100% of Zenith Energy Ltd. The scheme was successfully implemented on 21 August 2020.

MinterEllison acted for Pacific Equity Partners in the acquisition, which expanded their presence in the power infrastructure sector.

The deal faced several complications due to its changing nature and the challenges of the COVID-19 environment.

MinterEllison advised on multiple areas, including managing a scheme involving two voting classes, developing a consortium agreement that navigated the cartel conduct provisions of Australian competition law and drafting and negotiating the scheme implementation deeds.

The deal also required management of a FIRB application and due diligence across multiple countries.