Contact Energy has received clearance from the Commerce Commission for its proposed acquisition of Manawa Energy.
The decision is seen as a significant milestone by Contact, as it aims to enhance its ability to invest in future generation capacity and contribute to the New Zealand energy transition.
The acquisition, which was announced in September 2024, is still subject to several remaining conditions, including the receipt of an independent adviser's report, approval from the High Court, and approval by Manawa shareholders.
Contact is targeting implementation of the scheme in July 2025.
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