Processing timeline
25
days
Acquirer(s)
The Treasurer of Victoria for and on behalf of the Crown in the right of the State of Victoria, The Commonwealth of Australia, The Crown in the right of the State of Tasmania, Marinus Link Holding Company Pty Ltd
Target(s) or Vendor(s)
MARINUS LINK PTY LTD ABN - 47 630 194 562
Other parties
None listed
Marinus Link Holding Company Pty Ltd will acquire 100% of shares in Marinus Link Pty Ltd from the Commonwealth of Australia, the State of Tasmania, and the State of Victoria. This share exchange restructures the entity developing the Marinus Link, an undersea electricity interconnector for renewable energy transmission.
Marinus Link Pty Ltd ( MLPL ) is a company which is jointly owned by the Commonwealth of Australia, the State of Tasmania and the State of Victoria (the Shareholders ). MLPL is an operating company which is developing a new undersea and underground electricity interconnector between Tasmania and Victoria ( Marinus Link ). Marinus Link is currently in the delivery phase. Once operational, Marinus Link will enable the transmission of electricity between Tasmania and Victoria, providing affordable and renewable energy for customers in the National Electricity Market. The Shareholders are proposing to undertake a restructure whereby a newly established holding company, Marinus Link Holding Company Pty Ltd ( MLPL HoldCo ), will be interposed between MLPL and the Shareholders (the Acquisition ). The shareholdings in MLPL HoldCo will reflect the Shareholders’ current proportional shareholdings in MLPL. The Acquisition will consist of the following steps: The establishment of the new holding company, MLPL HoldCo. A sequential share exchange, involving the following steps (with each step to occur on the same day): MLPL HoldCo issuing additional shares in MLPL HoldCo to each Shareholder, such that the Shareholders will hold shares in MLPL HoldCo in proportion to their current shareholdings in MLPL, and MLPL HoldCo acquiring 100% of the shares in MLPL from the Shareholders (in consideration for the above issue of shares in MLPL HoldCo).