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Contact Energy Limited (NZX: CEN) has agreed to an extension for the Commerce Commission’s decision on its proposed acquisition of Manawa Energy Limited (NZX: MNW). Initially expected by December 24, the decision is now postponed to the end of March. The Commerce Commission plans to release a "Statement of Issues" soon, detailing potential competition concerns identified during its preliminary investigation. This document will form the basis for feedback from Contact Energy, Manawa Energy, and other interested parties.
The extension allows the competition regulator more time to evaluate the implications of the acquisition, ensuring it aligns with fair market practices. This delay highlights the complexity of the transaction and the need for thorough scrutiny before approval. Contact Energy remains committed to working with regulators and stakeholders throughout the process.
This acquisition could reshape New Zealand’s energy sector dynamics significantly.
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