Contact Energy's Manawa acquisition faces further delay

Contact Energy (NZX:CEN) announced today that the New Zealand Commerce Commission has extended its decision date regarding Contact's proposed acquisition of Manawa Energy Limited. Originally scheduled for March 31, 2025, the Commission now intends to release its decision by May 9, 2025. Contact Energy has actively cooperated with the Commission's assessment, submitting an extensive response to the Statement of Issues. CEO Mike Fuge stated that the acquisition meets legal standards for clearance and would support the renewable energy transition and retail competition. Contact is targeting a mid-2025 implementation of the Scheme.