Infratil Agrees to Cut Stake in Contact Energy in Over NZ$495 Million Block Trade

MT Newswires Live

May 20

Infratil (ASX:IFT, NZE:IFT) agreed to sell 53.5 million shares in Contact Energy (ASX:CEN, NZE:CEN), representing 5% of the utility's issued share capital, via a fully underwritten block trade priced at NZ$9.25 per share, with the deal expected to raise about NZ$495.2 million, according to a Wednesday filing with the New Zealand and Australian bourses.

Infratil will retain a 9.08% stake in Contact Energy after the sale and will hold the remaining shares until at least Contact's fiscal 2026 results release in August, the filing said.

The transaction is expected to be completed on May 25, the filing added.

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