Genesis Energy to acquire Nova Energy's retail LPG business

Genesis Energy

On Monday 1 May, Genesis Energy announced an agreement to acquire the retail LPG distribution assets and LPG customer base of Nova Energy. This transaction enables Genesis Energy to grow its LPG business by providing an exceptional LPG delivery service to thousands of customers throughout New Zealand, as well ensuring we can keep innovating in ways that benefit our customers.

 

Questions and answers

I heard Genesis Energy is buying Nova's LPG business, is this true?

Yes – Genesis Energy have entered a conditional agreement to purchase Nova Energy retail LPG business from Nova Energy, a subsidiary of Todd Corporation.


Why does Genesis Energy want to buy Nova's LPG business?

Genesis Energy have entered a conditional agreement to acquire Nova's retail LPG business because we want to grow our LPG business and be a major player in the LPG market.


When will this happen?

Genesis Energy has informed Investors and Shareholders, Nova LPG employees and our own Genesis Energy employees today (28th April) of our intention to purchase Nova's retail LPG business. We expect the acquisition to be complete on 31 May 2017. From 1 June to 31 July 2017 Nova will manage the business on our behalf, after this date Genesis Energy will manage the business.


I'm a Nova LPG customer, how does this change impact me?

At this stage there is no change but if we do make changes, we'll make sure we let you know about them and that you understand what they mean for you. Both Nova and Genesis Energy are committed to ensuring we continue to provide great service to you.

Can I still order my bottled gas through Nova?

Yes – you can still place your orders in the same way as you do today - via the Nova App, by calling Nova on
0800 668 236 or online via the Nova website.

Will the Nova plan I'm on change?

No – we won't be making any changes to the current plan you're on with Nova.

Do I need to change my payment set-up for my automatic payment or direct debit?

No – all the ways you can pay for the Nova bill will remain the same.


I'm a Genesis Energy LPG Bottled Gas customer, how does this change impact me?

At this stage there are no changes for our existing Genesis Energy LPG customers.


Where can I find out more details about the acquisition?

You'll find a copy of our media release here.