High court green light for $400m Trustpower deal

Trustpower will hold on to generation assets such as those at Patea and sell its retail base for $440m. (Image: supplied)

Ian Llewellyn

Thu, 16 Dec 2021

Mercury’s acquisition of Trustpower’s retail business is now expected to be completed early in 2022 after a favourable high court decision over a potential sticking point for the deal.Both companies said the court judgment today ruled in favour of the proposed restructure of the Tauranga Energy Consumer Trust’s (TECT) deed by its trustees.Trustpower said the appeal period for the decision expires in early February and pending this the settlement would be completed in the first quarter of 2022.Mercury has a binding agreement wi...

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