1 Jun 2012

Power station purchase approved

6:57 am on 1 June 2012

King Country Energy shareholders have approved the acquisition of Todd Energy's 50% stake in the Mangahao power station for $70 million.

King Country announced its intention to buy the stake in March, but it needed shareholders to approve the deal.

Chairman Brian Gurney says the outcome puts the company in a position to focus on retail growth.