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Infratil earnings improved by Z Energy sale
Infratil, the investment company managed by Wellington-based investment bank Morrison & Co, posted a 14 percent gain in first-half pretax earnings.
Infratil, the investment company managed by Wellington-based investment bank Morrison & Co, posted a 14 percent gain in first-half pretax earnings.
Tauranga-based Trustpower will pay $5 a share in cash in a full takeover offer for King Country Energy, provided it gets at least 70.2 percent of the company.
The recent rally in Z shares convinced Infratil and the Super Fund that it was time to sell.
Infratil will book a profit of $392m on the sale of its remaining 20pc stake in Z Energy.
Infrastructure investor Infratil says it'll be taking a more wary approach to potential new acquisitions.
New Zealand shares rose yesterday, heading back towards a record high after a two-day slide.
A new service from Fiji Airways will allow Wellingtonians to escape twice a week to the tropics from next June.
Martin Aircraft Company has extended its IPO for two weeks as the firm negotiates with a potential investor that could become a cornerstone shareholder.
The Auckland-based firm, whose brands include Oyster Bay, took out the Best Growth Strategy award.
Infratil will return $120m to shareholders as a special dividend after it sold its Australian energy assets for a net $670m.
Check out a snapshot of some of the stellar performers on the New Zealand sharemarket this year, as it surged ahead breaking new records.
Infratil posted a 5.3pc drop in pretax earnings, meeting guidance, on a weaker contribution from Trustpower and Infratil Energy Australia Group.
Infratil, the Wellington-based infrastructure investor, has sold its unprofitable Glasgow Prestwick Airport to the Scottish government for 1 British pound (NZ$1.98).
Infratil and the New Zealand Superannuation Fund stand to at least triple their money on Z Energy in next month's IPO.