Trustpower moves to mop up remaining 35% of King Country Energy

Wed, 06 Dec 2017

By Paul McBeth Dec. 7 (BusinessDesk) - Trustpower plans to mop up the remaining 35 percent of King Country Energy that it doesn't own, signing a deal with previous hold-out King Country Electric Power Trust to buy out minority shareholders. The Tauranga-based utility company will form a joint venture with the trust, which owns 19.98 percent of King Country Energy, which will then make a takeover offer for the central North Island electricity generator and retailer, it said in a statement. Trustpower had a two-tier pricing scheme when...

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