Origin Energy Limited (ASX:ORG) entered into an agreement to acquire WINconnect Pty Ltd from Pacific Equity Partners for AUD 42.4 million on December 20, 2021. As part of the transaction, Origin has also agreed to certain amendments to its Master Services Agreement (MSA) with Intellihub, also majority-owned by PEP, the amendments to the MSA include an increase in meter volumes. In addition, Intellihub will acquire both Origin's and WINconnect's electricity embedded network meters.

The transactions are inter-conditional with an equity refinancing concurrently being undertaken by Intellihub, and required approvals from Foreign Investment Review Board and New Zealand Overseas Investment Office, along with various other customary conditions. Completion is targeted for the first half of the 2022 calendar year. Peter Davis of Herbert Smith Freehills LLP acted as legal advisor to Origin Energy Limited.