Wynn Williams advises NZ Windfarms on $91M takeover by Meridian Energy

Wynn Williams is proud to have advised NZ Windfarms Limited on its successful acquisition by NZX-listed Meridian Energy Limited, marking a significant milestone in New Zealand’s renewable energy sector.

The transaction, executed via a court-approved scheme of arrangement, valued NZ Windfarms at $91 million. Shareholders of NZ Windfarms received 25 cents per share, representing a 107% premium to the NZX trading price prior to the announcement of the scheme in February 2025, and exceeding the independent adviser’s valuation range of 19 to 22.9 cents.

The scheme received strong shareholder support, with 65.76% of eligible votes cast in favour, surpassing the required majority threshold.

Wynn Williams provided comprehensive legal support across all aspects of the scheme. The team was led by Partner Stephen Lowe, with Partner Tom Heard advising on the Scheme Implementation Agreement. Senior Associate Katie Green managed the Scheme Booklet and all other aspects involved in implementing the Scheme, while Partner Greg Simms and Associate Jono Morton were also instrumental in securing the High Court’s approval.

Meridian Energy was advised by Russell McVeagh and Clare Capital, while Mafic Partners acted as financial adviser to NZ Windfarms.

Meridian reports that the transaction will help to finance the Te Rere Hau repowering project, which involves the design, construction and operation of up to 39 new turbines. This is New Zealand’s first wind farm repowering project and has the potential to generate seven times the annual renewable energy production of the current turbines.

This transaction highlights Wynn Williams’ expertise in advising listed companies, including on their complex corporate and M&A matters as well as our experience in the energy and infrastructure sectors.