Four investment banks have secured front-row tickets to the biggest deal of the year, Origin Energy.
Citi and UBS are understood to be advising Brookfield and partner EIG, respectively, on their joint $18.4 billion bid, while Barrenjoey and Jarden are in Origin Energy’s corner.Herbert Smith Freehills is doing Origin’s legal work. Brookfield and EIG’s MidOcean turned up in August with a bid at $7.95 a share, and have finally secured due diligence at $9. The bid is subject to due diligence.
Brookfield’s understood to be looking via its $US15 billion Brookfield Global Transition Fund, which is the same fund that’s turned up onWhile AGL turned Brookfield away, Origin’s board managed to secure three bids before deciding to give the Canadian investment giant a look at its books. The consortium would split Origin in half; Brookfield would take the energy markets business, while EIG’s MidOcean would own its LNG assets .co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.