There’s so much to see at Origin Energy and so little time for suitors Brookfield and EIG Partners.
While the pair and their bankers and lawyers spent the weekend readying for due diligence, there’s an extra sense of urgency on the Brookfield side given moments in Origin’s energy markets business.
Origin, with deep-pocketed Canadian pension CDPQ by its side, were seen as one of the three lead contenders, competing against Spanish giant Iberdrola and QIC’s Tilt Renewables . . The consortium was said to be homing in on a bid price, and all-important contracts between generators and retailer.While Brookfield/EIG’s interest hasn’t stopped Origin from bidding, Brookfield will want to know all about the tilt as part of the due diligence. The Canadian has only a week or two to form a view and communicate it to Origin, before it will be too late. It’s awkward timing, to say the least.
The question is whether it wants its $18.4 billion target paying a control premium for a renewables platform, or whether Brookfield thinks it has the bandwidth and capital to do the job for free.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Energy customers will pay high price for Brookfields’s bid for OriginOPINION: There are good competition reasons why monopoly distribution networks should not be owned by companies that also generate electricity.
Read more »
What the Origin deal means for Cannon-BrookesHow high could the ASX rally go; what the massive takeover offer for Origin means for Australia’s energy transition, and the “seismic” showdown at the AGL annual general meeting.
Read more »
Gas vs green jobs: Major parties put energy into campaignsThe Coalition and Labor both focused on energy supply and cost of living at their formal campaign launches to party faithful on Sunday, 13 days before Victorians head to the polls. | Rachel Eddie auspol victorianelection springst
Read more »
Andrews and Guy put energy at heart of election campaignVictorian Premier Daniel Andrews and Opposition leader Matt Guy have launched competing energy measures, as Labor seeks to stave off a backlash in heartland suburbs.
Read more »
Andrews puts energy jobs, power bill relief at heart of campaign launchPremier Daniel Andrews has put energy at the centre of his campaign launch announcing plans to boost apprenticeships in the sector, subsidise power bills and boost local content on renewables projects. heyracheddie and Ash_McMillan
Read more »
‘More and more confident’: Energy, cost of living the focus as Matthew Guy addresses party faithfulOpposition Leader Matthew Guy has used the Coalition’s campaign launch to announce a plan to pay supply charges on power bills for six months and “turbocharge” gas from new Victorian projects in the state. | annikasmethurst and Ash_McMillan
Read more »