Pacific Energy's biggest shareholder, Kenneth Hall, will reap a $205 million windfall after the Queensland Investment Corporation said it would buy Perth-based Pacific Energy for $422 million in cash.
Mr Hall, a former electrician who keeps a low profile, founded Kalgoorlie Power Systems in 1981 and then sold it to Pacific Energy in 2009 but retained a 48.7 per cent of the combined company and a seat on the board.
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Jenny Wiggins writes on business, specialising in infrastructure, telecommunications and transport. Connect with Jenny on Twitter. Email Jenny at jwiggins@afr.com
Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
