Manawa Energy Confident in Merits of Planned Acquisition by Contact in Wake of Regulator's Competition Concerns; Shares Down 5%

MT Newswires Live

02-07

Manawa Energy (NZE:MNW) stressed confidence in the merits of the planned acquisition of the company by Contact Energy (NZE:CEN, ASX:CEN) via a scheme of arrangement following comments from New Zealand's competition watchdog, according to a Friday filing with the New Zealand bourse.

Manawa said it will continue to work with the New Zealand Commerce Commission to iron out concerns it raised in its Statement of Issues last Wednesday. It expects to complete the scheme by the end of June.

Manawa's shares were down past 5% in recent Friday trade.

Price (AUD): $5.40, Change: $-0.29, Percent Change: -5.10%

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