Contact Energy in trading halt; Origin exit plan imminent

Mon, 03 Aug 2015

By Pattrick Smellie Aug. 4 (BusinessDesk) - Contact Energy shares have been placed in a trading halt on the NZX, pending an announcement about its majority shareholder Origin Energy's exit from the company. Australian business media have speculated that Origin, which owns 53.1 percent of the Wellington-based electricity generator-retailer and owner of gas distribution and LPG businesses, is seeking to sell down or exit its holding in Contact as it deals with balance sheet pressures created by a A$25 billion liquefied natural gas project i...

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