Govt names key advisors for energy sale process

The Queensland government has appointed Rothschild as the lead advisor to manage a number of energy asset sales, Acting Premier, Deputy Premier and Treasurer Anna Bligh announced today.

Rothschild will oversee the sale of Sun Retail (comprising the retail business arm of Energex), the contestable elements of Ergon Retail and the Allgas gas distribution business.

Bligh says the investment bank has a strong understanding of Australian energy industry issues and significant experience advising governments in Australia and internationally during energy reform and sale processes.

"Rothschild will work closely with the government to achieve a sale outcome that provides a fair return to Queensland taxpayers and supports the introduction of full retail competition in the middle of next year," she says.

The Acting Premier also announced that the government has appointed Allens Arthur Robinson to the role of legal advisor for the sale process.

"Allens Arthur Robinson has extensive experience in the legal due diligence, transaction management and contracting which will need to be undertaken to ensure a successful sale," Bligh says.

"The government is committed to ensuring a smooth and efficient sale process and expects to complete the transaction by the end of the year.

"The appointment of these key advisors is the first step to ensuring a well-run process which encourages strong interest from bidders."