DLA Piper has advised power generation specialist Pacific Energy Limited on its AU$90 million acquisition of Contract Power Group.

The transaction involves Pacific Energy acquiring 100% of the shares in Contract Power and certain assets or other related entities for AU$90 million, comprising AU$85 million cash and AU$5 million in Pacific Energy shares.

Contract Power is a specialist provider to the remote power generation sector, including in the Australian build, own, operate (BOO) market as we all in the EPC market, having completed projects in Australia, Africa and Asia.

The DLA Piper team was led by Perth-based Corporate partner Michael Bowen with special counsel Hedley Roost, senior associate Michael Ng and solicitor Kirsty Hall. Sydney-based Finance & Projects partner Alex Regan is advising in relation to the debt facility used to finance the acquisition. 

Michael Bowen said: "We are pleased to have advised Pacific Energy on this strategic acquisition of Contract Power, expanding its scale and reach to more than 30 long term power generation contracts."

This latest transaction is one of three recently announced large-scale resources deals currently being advised by DLA Piper, alongside the AU$450 million merger between Tawana Resources and Alliance Minerals (including debt facility and capital raising) and the combination of Atlas Iron Limited and Mineral Resources Limited.