Baker & McKenzie has advised the NSW Government on its controversial sale of energy assets.

The NSW Government sold electricity and gas retail businesses Country Energy, EnergyAustralia and Integral Energy; gentrader rights for Delta Electricity and Eraring Energy; and various development sites for A$5.3bn on Tuesday evening. However, the sale sparked the resignation of eight of the 11 board members of state-owned companies Eraring and Delta Electricity.

Origin Energy purchased the retail arms of Integral Energy and Country Energy for A$2.3bn. Origin paid a further A$950m for the output of Eraring Energy, which operates power stations on Lake Macquarie, north of Sydney, and in Shoalhaven, south of Sydney.

TRUenergy has acquired EnergyAustralia's retail business, the electricity trading rights for Mount Piper and Wallerawang coal-fired power stations, and three power station development sites for A$2.035bn.

Baker & McKenzie partner Chris Saxon led the extensive Baker & McKenzie team, together with energy & resources partners David Ryan, David Egan, Michael Kunstler and Chris Hughes, banking & finance partner Ken Gray, and competition partner Andrew Christopher.

Mallesons Stephen Jaques acted for TRUenergy, led by partners Louis Chiam and Vishal Ahuj, while Clayton Utz acted for Origin Energy, led by partners Graham Taylor (M&A), Emma Covacevich (due diligence) and Graeme Dennis(contracts and regulatory).