Bell Gully advised Contact Energy Limited (Contact) on the sale of its LPG business, Rockgas, to Gas Services NZ Midco Limited (GSNZ) for $260 million.
Rockgas is New Zealand's largest LPG retailer – holding a market share of approximately 41%. The business serves close to 90,000 customers across six branches, three satellite branches and a network of 27 franchises.
Bell Gully's role in this transaction was led by partner Chris Gordon. Garry Downs, a former Bell Gully partner, acted for GSNZ, with support from Chapman Tripp.
Chris said: "We are delighted to have assisted Contact with this initiative and very much enjoyed working with Contact's in-house legal and commercial teams and with GSNZ and its advisers, all of whom adopted a very constructive and solutions-driven approach to the transaction."