Ashurst advised Tilt Renewables Ltd on completion of acquisition by PowAR and Mercury

This process followed a competitive sale process during which Tilt received multiple binding proposals to acquire the company. PowAR has now taken possession of Tilt’s Australian subsidiaries, and Mercury NZ Ltd has acquired Tilt’s business in New Zealand.

This transaction is the largest ever renewables transaction in Australia/New Zealand, and will drive the growth of Tilt's high-quality renewable energy platform, realising exceptional value for shareholders and allowing PowAR and Mercury to accelerate growth in the Australia and New Zealand markets.

PartnerJohn Brewstercommented:

“Ashurst is pleased to have advised Tilt on this NZ$3.07 billion transaction and assist Tilt through all aspects of this complex competitive sale process that spanned across Australia and New Zealand. This marks the largest ever renewables transaction in Australia/New Zealand, which will help drive growth in the Australian and New Zealand renewables market. It was great to be involved in helping Tilt achieve this result."

The Ashurst team was led by partnersJohn Brewsterand Lynda Tully, who were assisted by lawyer Nik Lukic.