Global law firm Ashurst is advising SGX-listed Sembcorp Industries on its proposed 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, will give Sembcorp full ownership of Alinta Energy, a leading energy retailer and generator in Australia.
The transaction is subject to regulatory approvals, shareholder approval and other customary conditions, and is expected to complete in the first half of 2026.
Sembcorp is a leading energy and renewable company headquartered in Singapore, with an existing portfolio across 11 countries. 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 provides Sembcorp with an established platform to accelerate renewables growth in Australia whilst supporting an orderly transition, drawing on its proven capabilities in other markets. Sembcorp intends to maintain Alinta's existing management team and work closely with the Australian government to support Australia's energy goals.
Partner Tony Damian said:
"Ashurst is delighted to be supporting Sembcorp Industries on this landmark acquisition which will enable Sembcorp to grow its renewables portfolio. The deal demonstrates the strength of cross-border M&A flows and the importance of the energy transition to our M&A market".
The Ashurst team was led by partner Tony Damian, who was assisted by: partners Murray Wheater and Paul Lingard, counsel James Ireland, and senior associates Eliza Wallace, Bill Lo and Rachel Werner (Corporate Transactions).
