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Infratil Limited ( (IFUUF) ) has issued an announcement.
Infratil Limited has announced its acquisition of an additional 4.92% stake in Contact Energy Limited from TECT Holdings for $437.7 million. This transaction, which increases Infratil’s shareholding in Contact to 14.3%, aligns with its strategy to invest in high-quality assets and supports its growth flexibility by part-funding with new shares. The acquisition is seen as mutually beneficial, with TECT diversifying its investments while maintaining a relationship with Infratil, and Infratil reinforcing its confidence in the opportunities presented by the recent merger of Contact and Manawa Energy.
More about Infratil Limited
Infratil Limited is a New Zealand-based infrastructure investment company that focuses on owning and managing a portfolio of high-quality assets. The company operates in sectors such as energy, transport, data, and social infrastructure, aiming to generate sustainable returns by investing in strong market environments.
Learn more about IFUUF stock on TipRanks’ Stock Analysis page.