The major New Zealand legal firm Bell Gully advised Contact Energy Ltd (NZX & ASX: CEN) on the sale of its LPG business, Rockgas, to Gas Services NZ Midco Ltd (GSNZ).
The sale deal was worth $260 million.
Rockgas is the country’s largest LPG retailer - holding a market share of about 41%. The business serves close to 90,000 customers across six branches, three satellite branches and a network of 27 franchises.
Bell Gully’s role was led by partner Chris Gordon. Garry Downs, a former Bell Gully partner, acted for GSNZ, with support from Chapman Tripp.