Macquarie Group Limited (Macquarie Group), along with its controlled entities, has disclosed the acquisition of a substantial holding in New Zealand utility Contact Energy Limited (ASX: CEN). Contact Energy operates as one of New Zealand’s leading electricity generators and retailers, supplying power to a significant customer base across the country. The financial services conglomerate confirmed it began to have a substantial holding on 20 May 2026, collectively holding 53,961,905 ordinary shares, representing 5.04% of Contact Energy’s total quoted voting products.
The substantial holding is primarily attributed to an agreement between Macquarie Securities (NZ) Limited and Infratil Investments Limited. On the same date, Macquarie Securities (NZ) Limited entered into a letter agreement to underwrite, sell, and manage the disposal of 53,531,358 ordinary shares in Contact Energy. This block trade was set at a fixed price of NZ$9.25 per share, amounting to gross proceeds of approximately NZ$495.2 million for Infratil Investments. Settlement for this transaction is anticipated to occur on 25 May 2026. Additionally, Macquarie Bank Limited holds a direct relevant interest of 430,547 shares, equating to 0.04% of the company.
As a consequence of the underwriting agreement, Infratil Investments Limited’s power to dispose of, or control the disposal of, the 53.5 million shares is now qualified. Furthermore, Infratil Investments has undertaken not to deal in its remaining Contact Energy securities until the release of Contact Energy’s financial year 2026 results, which are expected around 18 August 2026. This announcement highlights Macquarie Group’s significant new position in Contact Energy, reflecting its role in facilitating large-scale share disposals in the market.
