Brookfield sticks to its guns on $18.7b Origin takeover
The Canadian fund manager has given the competition regulator more insight into how it would manage the day-to -day running of Origin Energy, should it approve the takeover.
Canadian investment house Brookfield has told the ACCC that a formal ringfencing of Origin Energy from its AusNet services business is unnecessary, in its latest attempt to secure the regulator's blessing for its $18.7 billion takeover of the ASX-listed gentailer.
The competition regulator published Brookfield's revised undertaking on the deal, which outlines new details about how it plans to practically manage the separation of Origin Energy from its existing AusNet transmission business should it win approval.
The proposals offer more detail on an original 5 June undertaking that Brookfield’s lawyers Allens submitted to the competition regulator.
To be successful in winning control of Origin, Brookfield must convince the regulator that the tie-up does not substantially lessen competition in electricity markets, or that the public benefits of the merger outweigh any likely detriment arising from it.
