Mercury cleared to buy Trustpower’s retail business

Tue, 28 Sep 2021

The Commerce Commission has granted clearance for Mercury NZ to acquire Trustpower’s retail business.Earlier this month Trustpower shareholders indicated their approval of the sale of the retail business to Mercury and a move to becoming a generation-only company called Manawa Energy. The deal is worth $441 million and Mercury will acquire Trustpower’s existing retail contracts to supply electricity, gas, and fixed and wireless broadband and mobile phone services.Trustpower has approximately 234,000 customers across New Zealand...

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