Infratil Buys Additional 4.92% Stake in Contact and Issues New Shares to TECT
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Infratil Limited has acquired a 4.92% stake in Contact Energy Limited from TECT Holdings for $437.7 million, equating to $8.95 per share. The purchase will be financed through $218.8 million in existing debt and the issuance of new shares worth $218.8 million to TECT at $12.43 per share. This follows Infratil's earlier sale of its 51% stake in Manawa Energy to Contact for approximately NZ$186 million in cash.
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