Contact to buy Manawa for $1.86b
Cash and scrip deal at 48% premium is supported by Manawa shareholder Infratil.
Manawa Energy has 25 hydro schemes with a total capacity of 500MW.
Contact Energy will buy hydro generator Manawa Energy for $1.86 billion in a cash and scrip deal supported by Manawa’s controlling shareholder Infratil.
The agreed scheme of arrangement announced to the NZX this morning offers Manawa shareholders cash of $1.16 a share, or $363 million, plus 0.5719
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