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- Release Date: 25/10/12 10:31
- Summary: ASSET: CEN: Contact confirms sale of Gas Metering business
- Price Sensitive: No
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CEN
25/10/2012 08:31
ASSET
REL: 0831 HRS Contact Energy Limited
ASSET: CEN: Contact confirms sale of Gas Metering business
25 October 2012
Contact confirms sale of Gas Metering business
Contact announced today the sale of its gas metering business to Vector for
the sale price of NZ$63M.
Completion of the sale is subject to Commerce Commission clearance which is
expected to take approximately three months.
Contact's Chief Executive Dennis Barnes said the sale of the gas metering
business was part of an ongoing programme at Contact to focus on its core
business.
"Since acquiring the meters as part of our acquisition of Enerco in 1999,
Contact has moved from solely servicing Contact customers at all of the gas
meters to being the gas retailer at approximately 40% of those gas meters.
While we are divesting the ownership and servicing of the meters, we still
retain access and ownership of the data the meters provide, ensuring that
Contact customers should see no change in the high quality service they
receive from Contact" he said.
ENDS
Investor enquiries: Fraser Gardiner 021 228 3688
Media enquiries: Shaun Jones 021 204 4521
End CA:00228836 For:CEN Type:ASSET Time:2012-10-25 08:31:10
