Global law firm Ashurst has advised SGX-listed Sembcorp Industries on its acquisition of Pioneer Sail Holdings Pty Limited and Latrobe Valley Power (Holdings) Pty Ltd from Chow Tai Fook Enterprises Limited. The transaction, valued at A$6.5 billion, and which closed in June 2026, gives Sembcorp full ownership of Alinta Energy, a leading energy retailer and generator in Australia.
Sembcorp is a leading energy and renewable company headquartered in Singapore, with a portfolio across 12 countries, including Australia. Alinta Energy supplies almost 1.1 million customers across Australia, supported by a high-quality portfolio of generating assets and a significant development pipeline of renewables and firming systems.
The acquisition will enable Sembcorp to integrate a scalable platform in Australia that includes Alinta's 3.4GW operating portfolio and 10.4GW development pipeline.
Partner and Co-Head of M&A (Australia) Tony Damian said:
"This is an important transaction and Ashurst is delighted to have advised Sembcorp Industries on it. The acquisition of Alinta Energy will help drive Australia's energy transition. The Australian M&A market remains buoyant and we are seeing strong cross-border M&A flows."
The Ashurst team was led by Tony Damian, who was assisted by partners Paul Lingard and Murray Wheater, and senior associates Eliza Wallace, Bill Lo and Rachel Werner (Corporate Transactions).
