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Greg Smith: Generate investment specialist on Infratil selling Contact Energy stake to fund future growth
Published 3 weeks, 5 days ago
Description
Infratil says it has agreed to sell 53.53 million shares - representing a 5 percent stake - in Contact Energy through a fully underwritten block trade.
The sale is at $9.25 per ordinary share, generating expected gross proceeds of about $495.17 million, and taking Infratil’s shareholding down to 9.08 percent.
The sell-down is expected to complete on May 25.
Generate investment specialist Greg Smith says Infratil will have other opportunities they'll want to take advantage of, like data centres.
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