Herbert Smith Freehills and Baker & McKenzie have the lead roles on Australian utility AGL Energy Ltd.’s proposed $1.37 billion acquisition of power company Macquarie Generation.
Currently owned by the New South Wales government, Macquarie Generation supplies 12 percent of the electricity consumed in Australia. It operates two thermal coal power stations, with a combined capacity of 4,640 megawatts. Sydney-based AGL Energy says the acquisition will increase its total generation capacity to more than 10,600 megawatts, bringing its share of generating capacity in the country to approximately 21 percent.
