Sumitomo snaps up solar company
Allens has advised Sumitomo Australia Pty Ltd on its acquisition of Western Australian rooftop solar business, Infinite Energy.
Firm: Allens (Sumitomo Australia Pty Ltd)
Deal: Allens has advised Sumitomo Australia Pty Ltd on its acquisition of WA’s Infinite Energy, a rooftop solar business.
Area: Energy, M&A
Key players: Allens’ legal team consisted of partner Jodi Reinmuth, associates Dale Straughen and Alexander Ninkov, and lawyers Kate Strachan and Elle Farris.
Deal significance: Infinite Energy, operating out of Western Australia, operates across a number of sectors of the state’s energy industry, Allens said.
It provides power solutions for large commercial and industrial customers, selling solar photovoltaic and battery systems to commercial and residential customers while also engaging in electricity retailing, according to a statement from the firm.
Partner Jodi Reinmuth said the firm “was pleased to assist Sumitomo with this strategically important acquisition”.
“This deal will allow Sumitomo to strengthen and expand its position in the Western Australian energy sector and we congratulate Sumitomo on completing this important transaction,” she noted.
Sumitomo Australia Pty Ltd is a wholly owned subsidiary of parent organisation Sumitomo Corporation, which owns a 20 per cent stake in Press Metal.
Lawyers Weekly has previously covered Press Metal’s purchase of an economic interest in the Worsley Alumina bauxite mining and alumina refinery.