Shell Energy Operations Pty Ltd and Infrastructure Capital Group Ltd agreed to acquire Australian Business Of Meridian Energy Limited from Meridian Energy Limited (NZSE:MEL) for approximately AUD 730 million on November 22, 2021. Under the arrangement with Infrastructure Capital Group Ltd, Shell Energy Operations Pty Ltd will also acquire wind power purchase agreements (PPAs) and has agreed offtake arrangements with ICG associated with MEA's hydro and wind assets. The transaction is subject to foreign investment approval from the Australian Government.

It is expected to be completed in the first half of 2022. Lazard & Co Pty Ltd. acted as financial advisor to Meridian Energy Limited. Craig Henderson, Ruth Engelbrecht, Kate Axup, Madeleine George, Holly Adams, Jillian Button, Naomi Bergman, Astrid Reidy, Amy Gilbertson, Michael Graves, Michael Park, Jake Boudsocq, Tim Golder, Simon Dewberry, Courtney Logue of Allens acted as legal advisors to Meridian Energy Limited.