AUCKLAND, NEW ZEALAND: Trustpower (TPW) suggested that all substantial conditions for the sale of its retail enterprise to Mercury Limited (MCY) for $441million have now been met, with settlement anticipated to happen 1 May 2022.
The sale includes Trustpower’s existing retail contracts to present electricity, gas, fixed and wi-fi broadband and cell phone services. Trustpower has roughly 234,000 customers throughout New Zealand. The sale doesn’t include any of Trustpower’s industrial or commercial electrical energy customers, nor any of its generation assets.
Upon profitable completion of the sale, the generation and commercial gross sales enterprise will be renamed Manawa Energy Limited (MNW).
Trustpower will present a additional announcement in mid-April containing key information on Manawa Energy together with excessive level strategy, capital construction and dividend policy.