Squire Patton Boggs Advises ITOCHU Corporation on Minority Investment in Australia Integrated Energy Company UON

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Squire Patton Boggs has advised Tokyo Stock Exchange-listed Japanese trading house ITOCHU Corporation (ITOCHU) on its minority investment into Western Australian integrated energy company UON Pty Ltd (UON).

The acquisition, which is subject to customary regulatory merger approvals around the world, will partner ITOCHU with UON as it looks to accelerate the energy transition through a combination of innovative energy solutions and technologies. ITOCHU Corporation’s history of promoting businesses in decentralised renewable energy, household and industrial storage batteries and renewable energy power plants is expected to be leveraged to assist UON in introducing further innovative and stable renewable energy solutions to the West Australian mining industry and other industries worldwide.

Perth Corporate partner Samantha Smart and Senior Associate Connor McClymont led the Squire Patton Boggs deal team. Regulatory approvals were coordinated by Squire Patton Boggs’ expert international merger clearance team, including Diarmuid Ryan (Partner, London and Brussels), Gorka Navea (Partner, Madrid) and Daniel Roules (Partner, Shanghai).

Speaking on the transaction, Ms. Smart said: “Acting for ITOCHU Corporation on this transaction was an exciting opportunity to combine our longstanding relationship and history of advising ITOCHU Corporation in Japan and Australia with our expertise in the emerging and expanding renewable energy industry in Western Australia. We are proud to have assisted ITOCHU’s investment into UON and look forward to UON’s future growth and the maturation of the renewable energy services industry in Western Australia and beyond”.

UON has supplied integrated energy and water solutions to industrial and mining clients in remote and off-grid regions of Australia since 1998. UON, now in partnership with ITOCHU, is committed to developing ‘Energy for Every Future’ and continues to show growth through its delivery of innovative energy solutions. ITOCHU Corporation will join UON’s founder, Mark Keogh, and the Macquarie Group as shareholders in UON.

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