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Mallesons Stephen Jaques has acted for Alinta Energy Group in reaching a commercial understanding with its syndicate lenders to deleverage the business. After considering numerous trade bids and…
Mallesons Stephen Jaques has acted for Alinta Energy Group in reaching a commercial understanding with its syndicate lenders to deleverage the business.
In accordance with the deal, Alinta will sell its main operating businesses to a company owned by its syndicate lenders, in return for a payment of 10 cents cash per share to its security holders and a full discharge of its syndicate debt.
The transaction is still subject to credit approvals, court and security holder approval.
The Mallesons team was led by partners Scott Gardiner and Tim Bednall, assisted by a group of over 30 finance and M&A lawyers.
Alinta owns power stations in Australia and New Zealand as well as an energy and gas retailer in Western Australia.
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