Genesis Energy agrees to buy LPG assets from Todd's Nova Energy for $192M

Sun, 30 Apr 2017

By Jonathan Underhill May 1 (BusinessDesk) - Genesis Energy has agreed to acquire the retail LPG business of Todd Corp's Nova Energy unit for $192 million, a move that will give New Zealand's biggest electricity retailer almost a fifth of that market. The deal, which is subject to some limited due diligence, will increase Genesis Energy's share of retail LPG in New Zealand to 19 percent from 3 percent, making it the second-largest player in that market by customers behind Contact Energy. The deal would deliver about $17 million of earn...

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