Contact Energy Limited (ASX:CEN) Receives Commerce Commission Clearance for Manawa Acquisition
Acquisition Approval
Contact Energy has received clearance from the New Zealand Commerce Commission for its proposed acquisition of Manawa Energy Limited.
Implementation Conditions
The acquisition is subject to receiving an independent adviser’s report, High Court approval, and approval by Manawa shareholders. Additional information and shareholder meeting notices are expected later this month. Contact targets implementation of the Scheme in July 2025.
Executive Comments
Chair Rob McDonald said, “The combination of Contact and Manawa is an important step for the New Zealand energy transition, providing greater ability to invest in future generation capacity, enhancing market security and ultimately contributing to reducing wholesale prices long-term.”
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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