Contact Energy Limited (COENF) has released an update.
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Contact Energy Limited is set to enhance its renewable energy footprint with the purchase of Manawa Energy Limited, aiming for a diversified, resilient energy portfolio across New Zealand. The acquisition, which will be executed through a court-approved Scheme of Arrangement, offers Manawa shareholders a mix of Contact shares and cash consideration. This strategic move, pending regulatory approval, promises to bolster Contact’s capacity to manage energy demands and advance the country’s energy transition.
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