Greg Smith: Generate investment specialist on Infratil selling Contact Energy stake to fund future growth

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.  LISTEN ABOVESee omnystudio.com/listener for privacy information.