# QIC to acquire Pacific Energy for AUD 422 million

Queensland Investment Corporation (QIC) agreed to buy Perth-based Pacific Energy, a provider of remote power to mine sites, for AUD 422 million in cash.

- Type: Acquisition
- Announced: 2019-07-25
- Where: Perth, Australia
- Value: $293.0M (422.0M AUD)
- Status: announced
- Products: remote power generation, renewable energy power stations
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Pacific Energy](https://endata.com/companies/9455.md) (target)
- [Queensland Investment Corporation](https://endata.com/companies/40882.md) (acquirer)

## Sources

- [perennial.net.au](https://perennial.net.au/qic-diversifies-into-remote-power-with-422m-pacific-energy-buy/), 2019-07-25: "QIC will buy Pacific Energy, which provides power to remote mine sites and operates renewable energy power stations, via a scheme of arrangement, paying 97.5¢ per share in cash including a 1.5¢ fully franked dividend."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.