Breaking: Contact Energy to take over Manawa

Manawa Energy used to trade as Trustpower (Image: Supplied)

Wed, 11 Sep 2024

Contact Energy has entered a scheme of implementation intending to take a 100% share of renewable electricity generator Manawa Energy.The deal values Manawa at approximately $2.3 billion, compared to its market capitalisation of $1.26b based on Tuesday’s $4.03 share price.Contact would pay a combination of 0.5719 Contact shares for each share held by Manawa shareholders and a cash payment of $1.16 per Manawa Energy share.The companies disclosed the plans in filings to the New Zealand Exchange (NZX) on Wednesday morning. In...

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