Contact Ceases Negotiations With Nrg

Contact Ceases Negotiations With Nrg To Acquire Generation Assets

Contact Energy’s Chief Executive Steve Barrett today confirmed that NRG has declined Contact’s offers to acquire any of its Australian electricity generation assets.

“In July, we announced that Contact was interested in buying some of the Australian assets being offered for sale by the Minneapolis based NRG Energy, Inc. Regrettably, we have not been able to conclude any sales agreements with NRG at prices which meet our investment criteria. Accordingly, our discussions with NRG are now at an end.”

Mr Barrett noted that “while we are disappointed that this venture has not come to fruition, Contact will continue to look for growth opportunities in Australia that add value for the company’s shareholders.”

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