Mercury buys Trustpower’s retail business in $441m deal

Mercury buys Trustpower’s retail business in $441m deal
Once again, Mercury is picking up assets in part developed by Infratil. (Image: supplied)
Pattrick Smellie
Auckland-based energy producer and retailer Mercury will buy the retail electricity, gas and telecommunications services from Trustpower.The deal adds 252,000 electricity customers to Mercury’s existing customer base of more than 331,000 electricity customers, making it the largest electricity retailer in the country and surpassing Genesis Energy, which has had the largest customer base since 2003.The deal is subject to Commerce Commission and shareholder approvals.It also marks a second major transaction for Mercury involving assets owne...

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