Joint Media Release

Business Adviser Appointed For Snowy Hydro Negotiations

MC 31/17

Senator the Hon. Mathias Cormann
Minister for Finance
Deputy Leader of the Government in the Senate
Senator for Western Australia

The Hon. Josh Frydenberg MP
Minister for the Environment and Energy
Member for Kooyong

14 June 2017

The Government has announced a proposed acquisition of a larger shareholding in Snowy Hydro by the Commonwealth.

To provide specialist valuation services in negotiations with the New South Wales and Victorian Governments, to acquire a larger share or outright ownership of Snowy Hydro, the Government has appointed Lazard Pty Ltd as a business adviser.

Lazard will be supported by other expert advisers to assist the Commonwealth in its due diligence processes associated with a transaction of this nature.  

[ENDS]

Media Contact(s): 

For Minister Cormann - Karen Wu - 0428 350 139
For Minister Frydenberg – Kane Silom - 0438 225 175