Harmos Horton Lusk advises Vector on its Vector Metering joint venture arrangements

Harmos Horton Lusk has advised NZX listed Vector Limited on its joint venture and governance arrangements for Vector Metering, as part of Vector’s sale of a 50% interest in Vector Metering to investment vehicles managed and advised by QIC Private Capital Pty Limited. The sale transaction valued Vector Metering at an enterprise value of NZ$2.5 billion and resulted in gross proceeds to Vector of NZ$1.7 billion.

Vector Metering is one of the largest smart metering businesses in Australasia, providing innovative smart meter data services from more than two million electricity and gas meters throughout New Zealand and Australia.

Vector was also advised by Chapman Tripp on the sale transaction, and by King & Wood Mallesons on Australian law.

The Harmos Horton Lusk team that advised on the transaction was led by directors Andrew Harmos and Tim Mitchelson and included associate Robbie Selbie.