Infratil Boosts Stake in Contact Energy to 14.3% with NZ$437.7 Million Acquisition

Core Insights - Infratil Limited (IFT) has agreed to acquire an additional 4.92% stake in Contact Energy Limited (CEN) for NZ$437.7 million, increasing its total shareholding to 14.3% [2][8] - The acquisition will be funded through NZ$218.8 million from existing debt capacity and NZ$218.8 million from the issuance of new Infratil shares to TECT Holdings at NZ$12.43 per share [3][8] - This acquisition follows Infratil's earlier sale of its 51% stake in Manawa Energy to Contact Energy in July 2025, which established an initial 9.4% holding in Contact Energy [4][8] Company Strategy - Infratil's Chief Executive, Jason Boyes, stated that the transaction is a "win-win" for both parties and reinforces the company's strategy to invest in high-quality assets within robust market environments [5] - The part-funding of the deal through new shares is aimed at preserving Infratil's flexibility for future growth while increasing ownership in a strong cashflow-generating business [5] Relationship Dynamics - TECT's Chief Executive, Wayne Werder, expressed satisfaction in continuing the long-standing relationship with Infratil by becoming a shareholder in the infrastructure firm [5]