M&A Deal Summary

AMP Acquires Powerco

On July 4, 2013, AMP acquired distribution company Powerco from Brookfield for 525M NZD

Acquisition Highlights
  • This is AMP’s 1st transaction in the Distribution sector.
  • This is AMP’s largest (disclosed) transaction.
  • This is AMP’s 1st transaction in New Zealand.

M&A Deal Summary
Date 2013-07-04
Target Powerco
Sector Distribution
Buyer(s) AMP
Sellers(s) Brookfield
Deal Type Divestiture
Deal Value 525M NZD

Target

Powerco

New Plymouth, New Zealand
Powerco is a electricity and gas distribution company provides an essential service to the communities, businesses and customers it serves.

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Buyer(S) 1

Buyer

AMP

Sydney, Australia
Category Company
Founded 1849
Sector Financial Services
Employees2,664
Revenue 1.4B AUD (2023)
DESCRIPTION

AMP is a provider of life insurance, superannuation, pensions and other financial services in Australia and New Zealand. AMP was founded in 1849 and is based in Sydney, Australia.

DEAL STATS #
Overall 1 of 3
Sector (Distribution) 1 of 1
Type (Divestiture) 1 of 2
Country (New Zealand) 1 of 1
Year (2013) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-31 China Life Pension

Beijing, China

China Life Pension Company Limited is a provider of enterprise annuities products.

Buy -

Seller(S) 1

SELLER

Brookfield

Hamilton, Bermuda
Category Company
Founded 2007
Sector Utilities
Revenue 14.4B USD (2022)
DESCRIPTION

Brookfield operates long life, high quality infrastructure assets with high barriers to entry and low maintenance capital requirements that generate stable and growing cash flows. Brookfield was founded in 2007 and is based in Toronto, Canada.

DEAL STATS #
Overall 1 of 2
Sector (Distribution) 1 of 1
Type (Divestiture) 1 of 2
Country (New Zealand) 1 of 1
Year (2013) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-14 Niska Gas Storage Partners

Radnor, Pennsylvania, United States

Niska Gas Storage Partners LLC is an independent natural gas storage company. Niska Gas Storage Partners was founded in 2006 and is based in Radnor, Pennsylvania.

Buy $912M
Mergr

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