Australia's Origin Energy has confirmed its plans to sell its 53.09 per cent controlling stake in Contact Energy.
Contact said Origin had advised that it planned to undertake the sale of its 389.3 million ordinary through an underwritten sell-down.
Origin has requested that Contact seek a trading halt until it confirmed that the sale has completed. Contact has announced the trading halt would be effective from today.
At Monday's closing price of $5.02, Origin's stake would be worth $1.95 billion in total.
