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Highlights
Regulatory Clearance Secured: Contact Energy has received approval from the New Zealand Commerce Commission to acquire Manawa Energy.
Strategic Energy Merger: The deal is expected to enhance New Zealand’s energy transition by increasing generation capacity, strengthening market security, and supporting long-term reductions in wholesale electricity prices.
Scheme Implementation Targeted for July 2025: Final approval from the High Court, Manawa shareholders, and other conditions are still pending, with implementation anticipated by mid-2025.
Contact Energy Limited (NZX:CEN) has received formal clearance from the New Zealand Commerce Commission (NZCC) for its proposed acquisition of Manawa Energy Limited. The approval marks a key milestone in the progression of the planned merger.
Contact’s Chair, Rob McDonald, hailed the clearance as a pivotal moment for the company and the industry at large. “The combination of Contact and Manawa is an important step for the New Zealand energy transition,” he said. “It enhances our ability to invest in future generation capacity, bolsters market security, and will ultimately support a reduction in wholesale electricity prices over time.”
The acquisition was first announced in September 2024, when Contact revealed it had entered into a Scheme Implementation Agreement (SIA) to acquire 100% of Manawa Energy through a court-approved Scheme of Arrangement.
While the NZCC approval is a major step forward, the transaction still hinges on the fulfilment of several additional conditions outlined in the SIA. These include:
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A positive independent adviser’s report concluding that the offer consideration is within or above the report’s valuation range.
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Approval from the High Court of New Zealand.
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Majority approval from Manawa shareholders at a specially convened shareholder meeting.
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Satisfaction of other customary regulatory and procedural requirements.
Manawa is expected to provide its shareholders with further details about the Scheme, including a notice of the upcoming special meeting, later this month.
If all remaining conditions are met as planned, Contact aims to implement the Scheme by July 2025.






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