Zen Energy demerges from GFG Alliance

By Tony Zhang|12 August 2020
John Kain

Kain Lawyers has advised on the demerger of the Zen Energy retail business from the GFG Alliance.

Firm: Kain Lawyers (Zen Power Holdings) 

Value: Undisclosed.

Deal: Kain Lawyers has advised on the demerger of the electricity retail and energy services business from SIMEC Zen Energy Pty Ltd (an entity within the GFG Alliance) to Zen Power Holdings, an entity owned by a shareholder group (led by Ross Garnaut and Raymond Spencer) which founded the retail business (“founding shareholders”).

Advertisement
Advertisement

Area: Energy and resources.

Key players: The Kain Lawyers team consisted of John Kain, Brian Vuong, Alyce Ricciardi and Nicholas Cardone.

Deal significance: On 12 August 2020 electricity retail and energy services business owned by SIMEC Zen Energy Pty Ltd was demerged into and became wholly owned by Zen Power Holdings Pty Ltd, an entity owned by a shareholder group led by Mr Garnaut and Mr Spencer which founded the Zen Energy retail business.

“This demerger is a significant transaction for our clients,” Mr Kain said.

We are excited to have delivered on their commercial objective and to continue our relationship with Zen Power Holdings as they look to build on their already enviable market presence.”

SPONSORED CONTENT

Kain Lawyers advised the founding shareholders in relation to the demerger.

The demerger will allow the two distinct aspects of the previously jointly owned business – development and retail – to be operated separately with capital and management arrangements tailored to their own requirements. The demerger will allow the founding shareholders to focus on the electricity retail and energy services business.

“John, Brian, Alyce, Nicholas and the team at Kain Lawyers were an outstanding transaction partner for us,” Mr Garnaut said.

They identified with our commercial objective and worked tirelessly to achieve it. The advice they provided was succinct and provided commercially relevant solutions.

The Zen Energy retail business was previously operated as a joint venture between Sanjeev Gupta’s SIMEC Group and the founding shareholders, as part of the broader GFG Alliance.

The Zen Energy retail business is a leading Australian provider of renewable electricity, including solar panels, solar power systems and battery storage solutions to both residential and C&I customers.

Zen Energy demerges from GFG Alliance
Intro image
lawyersweekly logo
Big Law

latest

Kingsley Liu and Molina Asthana

Cultural diversity cannot be pushed to backburner

Natasha Blycha

Female-led association launched to support diversity in law and tech

Victoria Magistrates Court

Judicial appointments to Victoria’s Magistrates’ Court

James Jordan

‘Greatest logistical challenge’ in distribution of COVID-19 vaccine

FROM THE WEB
Recommended by Spike Native Network