Contact Energy has successfully completed its acquisition of Manawa Energy.
The deal, which was announced in September 2024, involved Contact acquiring 100% of Manawa under a court-approved scheme of arrangement.
As part of the agreement, eligible Manawa shareholders will receive $1.12 in cash per share, along with 0.5830 new Contact shares for each Manawa share held.
Contact's chair, Rob McDonald, described the combination as an important step for the New Zealand energy market and energy transition, stating it would enable greater investment in future generation capacity and contribute to reducing wholesale prices in the long term.
Contact also provided an update to Manawa bondholders, stating that Manawa would soon provide further information on the bond redemption process.
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