New South Wales Government sells mining assets

The New South Wales (NSW) Government recently announced the sale of the State-owned coal mining company, Powercoal Pty Ltd, to Centennial Coal Company Ltd for a total consideration of over A$300 million. Frontier (Melbourne) was engaged by the NSW Treasury to manage the sale process on behalf of the Government, to advise on long term coal supply contracts concluded by Powercoal and the State-owned generators just prior to the sale, and to advise on the policy approach on employee issues having regard to the economic and policy outcomes sought by the Government. Frontier worked with JPMorgan, Baker & McKenzie, Ernst & Young and Mineconsult on the sale of Powercoal.