Manawa Energy scheme approval deadline extended by six weeks

Manawa Energy (NZX:MNW) announced that the New Zealand Commerce Commission (NZCC) has extended the deadline for its decision regarding the scheme implementation agreement with Contact Energy until 9 May 2025. The agreement, initially announced on 11 September 2024, involves Contact Energy acquiring all of Manawa's shares through a Scheme of Arrangement. The scheme remains conditional on NZCC approval and other conditions. Manawa anticipates that, subject to receiving clearance, the remaining conditions will be met and the scheme completed by mid-2025. Manawa Energy is Aotearoa New Zealand's largest independent electricity generator and renewables developer with 26 power schemes nationwide and a total installed capacity of 510 megawatts.