Contact Energy sells Rockgas LPG business for $260M to pay down debt

Mon, 30 Jul 2018

By Tina Morrison July 31 (BusinessDesk) - Contact Energy is selling its Rockgas LPG business to gas network operator Gas Services NZ Midco for $260 million, which it will use to pay down debt. The cash deal is expected to be completed by the end of this calendar year and will see Contact partner with GSNZ to enable it to continue to offer LPG to mass market customers, Contact said in a statement. Rockgas and Contact will cross-sell their respective LPG and electricity products and Contact will provide customer support services for an annu...

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