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Asia M&A centres on utilities and energy

Date: 27 Oct 2009

Utilities and energy deals dominated buy-out activity last week, with a bid from Pacific Equity Partners leading the way. Separately, corporate bond volume dropped while equity markets were noticeably weaker. Asiamoney.com rounds up last week’s regional capital market activity.

Keywords (click to search): [league tables] [Pacific Equity Partners] [Energy Developments] [Sarawak Energy] [China International Energy] [Westpac] [Noble Group] [Oil Search]

Pamela Tang

Utilities and energy were the primary focus of M&A activity in the Asia-Pacific ex-Japan region again last week, with eight deals worth a total of US$1.3 billion.

The largest came from Pacific Equity Partners, an Australian private equity firm, with its US$775 million bid for Energy Developments, a local provider of renewable energy.

Pacific Equity Partners has offered A$2.65 a share for the firm, which owns power stations in Australia, the US, Europe and the UK. These facilities draw on sources such as landfill gas, waste coal mine gas, natural gas and liquefied natural gas.

However, it is unclear whether the deal will pull through as Energy Developments has revealed that it does not...

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