The following notes are from the Forum, which the CPPA attends.
As you may recall the Ash Dam stabilisation was the trigger that closed the Myuna Bay Sport and Rec camp.
From the minutes
5. Ash Dam Stabilization Works
- Phase 1 of Ash Dam Stabilization works was reported to be complete, specifically the buttressing phase.
- It was noted that this is a major milestone as the project now meets the required factor of safety.
- DS NSW Audit has been successfully completed, confirming compliance.
6. Proposed Acquisition of Origin
- An update on the proposed acquisition of Origin was presented, including:
- ACCC approval status.
- Distribution of the scheme booklet.
- Announcement of a shareholder meeting scheduled for 23 November 2023.
- The transfer is set to be completed by 18 December with no expected change to operations.
An update on the update about the acquisition from the Sydney Morning Herald (SMH)10/10/23: “Australia’s competition watchdog has approved the takeover of the nation’s biggest energy retailer Origin Energy by Canadian fund giant Brookfield and its consortium partner MidOcean, but the $18.7 billion deal still needs the backing of large shareholders who think the bid undervalues the company.
An update from SMH on 4/12/23 “Australia’s largest super fund and other shareholders of Origin Energy have dealt a fatal blow to Brookfield and EIG after 13 months of corporate drama, rejecting a multibillion-dollar bid by the consortium to break up and privatise Australia’s largest energy provider.”
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