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Chapman Tripp was pleased to assist Vector in entering into a conditional agreement to sell Vector OnGas, its liquified petroleum gas business, together with its 60.25% shareholding in Liquigas Limited.
Vector OnGas is one of New Zealand’s largest suppliers of LPG to homes and businesses throughout the country. Liquigas provides infrastructure services to support the bulk distribution and storage of LPG throughout New Zealand.
Chapman Tripp acted for Vector on the transaction, together with Webb Henderson on competition aspects. Led by Partner Lauren Curtayne, the Chapman Tripp team included Partners Roger Wallis, Simon Peart, Bevan Miles, Special Counsel Vonda Engels, Senior Associates Kishan Gunatunga and Rupesh Patel, and Solicitor, Gracie Jones.
“The transaction marks another milestone in Chapman Tripp’s long and successful relationship with Vector, as Vector continues to lead the way in creating a new energy future” Lauren said.
“We also advised on the NZ$2.5b sale last year of a 50% stake in Vector’s NZ and Australian metering business, and the sale in 2019 of the Kapuni gas treatment plant and related assets together with its 50% interest in the Kapuni Energy Joint Venture”.
The agreement has a number of regulatory approvals and commercial conditions to satisfy. It is anticipated to complete in late 2024/early 2025.
