Trustpower launches $126.6 mln takeover bid for King Country Energy

Mon, 02 Nov 2015

By Paul McBeth Nov. 3 (BusinessDesk) - Trustpower, the utility company controlled by Infratil, is mounting a $126.6 million takeover bid for King Country Energy, having entered into a lock-up arrangement with Todd Corp's Nova Energy for 54 percent of the central North Island electricity generator and retailer. Tauranga-based Trustpower will pay $5 a share in cash in a full takeover offer for King Country Energy, provided it gets at least 70.2 percent of the company, or a lower price of $4.78 a share if it falls short of that mark, it said...

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