Australia’s leading independent law firm, Corrs Chambers Westgarth, has advised Hancock Prospecting Pty Ltd (HPPL) in connection with its joint venture with POSCO INTERNATIONAL Corporation (POSCO) to acquire natural gas producer Senex Energy Limited (Senex) by way of a scheme of arrangement.

Announced in December, the A$900 million deal completed this week and is an important investment in the natural gas market by HPPL. 

The matter was led by Head of Corporate Sandy Mak and partners Robert Franklyn and Adam Foreman. Corrs advised HPPL on key aspects of the transaction, drawing on the combined expertise of Corporate, Banking and Finance, Employment, Energy and Natural Resources,  Commercial Litigation, Competition and Tax teams. 

Commenting on the matter, Head of Corporate Sandy Mak said: “It has been a pleasure to work with Hancock on this transaction and see it come to fruition this week.” 

“The deal reflects the increase in activity in the global resources market in a dynamic environment for energy prices,” noted partner Robert Franklyn.