Latest State Owned Enterprises Headlines

Gordon Campbell on Len Brown, trust, and Simon Bridges

Wed, 16 Oct 2013 11:25:02 +1300 | Gordon Campbell

Leaving aside the tawdry details of Auckland mayor Len Brown’s extramarital affair, the oddest feature is the timing of the revelations. By Brown’s own account to John Campbell last night, the affair ended mid year, just before the election campaign ...More >>

Bank of Tokyo resists Solid Energy debt restructuring

Tue, 15 Oct 2013 10:49:39 +1300 | BusinessDesk

Oct. 15 (BusinessDesk) – Japanese financial giant Bank of Tokyo is opposing the debt restructuring deal announced on Oct. 1 to help get state-owned coal miner Solid Energy back on its feet, but may be forced to take the deal anyway, papers lodged ...More >>

Five days remaining in Meridian Share Offer

Mon, 14 Oct 2013 09:03:36 +1300 | New Zealand Government

New Zealanders have just five days remaining to apply to become shareholders in Meridian Energy, the country’s largest electricity generator, Minister for State Owned Enterprises Tony Ryall says.More >>

Green Party launches campaign to win asset sales referendum

Fri, 11 Oct 2013 14:16:03 +1300 | Green Party

The Green Party has officially launched its Keep Assets Kiwi: Vote No to Asset Sales citizens initiated referendum campaign today, with billboards going up around Auckland. More >>

Green Party launches campaign to win asset sales referendum

Fri, 11 Oct 2013 14:08:09 +1300 | Green Party

The Green Party has officially launched its Keep Assets Kiwi: Vote No to Asset Sales citizens initiated referendum campaign today, with billboards going up around Auckland. More >>

UN Reviews Czech Republic’s National Electricity Company

Fri, 11 Oct 2013 10:56:01 +1300 | UN News

An international team led by United Nations nuclear safety experts today completed a review of corporate safety performance at CEZ, the largest national electricity company in the Czech Republic, to address safety operations at the Dukovany and Temelin ...More >>

City Vision Candidates Call for Transparency on Asset Sales

Mon, 7 Oct 2013 09:03:05 +1300 | City Vision

City Vision’s candidates for the Albert-Eden-Roskill ward Cathy Casey and Peter Haynes are delighted that Mayor Len Brown is calling for candidates for Council to state their position on asset sales.More >>

Referendum Kiwis’ chance to say ‘no’ to wasteful asset sales

Mon, 7 Oct 2013 08:57:02 +1300 | Green Party

The Green Party is calling on Kiwis to vote ‘no’ to asset sales in the coming referendum as new figures show the sale of Meridian will cost $1.6 million ever week in lost net dividends, Green Party Co-leader Metiria Turei said today.More >>

Solid Energy posts $335 mln loss on writedowns, costs

Fri, 4 Oct 2013 17:13:52 +1300 | BusinessDesk

Oct. 4 (BusinessDesk) – Financially distressed state-owned coal miner Solid Energy has declared a $335 million loss for the year to June 30, reflecting writedowns in the value of its assets of $215.3 million and restructuring costs of $102.2 million.More >>

Solid Energy Results for Year Ended 30 June 2013

Fri, 4 Oct 2013 14:50:33 +1300 | Solid Energy NZ

-Coal sales of 4.1 million tonnes (Mt), down 11% (2012: 4.6 Mt), in weak commodity markets. More >>

Time for answers over Solid Energy mess

Fri, 4 Oct 2013 14:41:47 +1300 | New Zealand Labour Party

Solid Energy’s $335 million loss in the last year shows the time has come for real answers on how the company got into this mess which can only come from the Auditor General, says Labour’s SOEs spokesperson Clayton Cosgrove. More >>

REPEAT: Air NZ plans to raise stake in Virgin Australia

Fri, 4 Oct 2013 10:41:13 +1300 | BusinessDesk

REPEAT: Air NZ plans to raise stake in Virgin Australia to 25.9 percent after gaining approvals More >>

Air NZ plans to raise stake in Virgin Australia to 25.9%

Fri, 4 Oct 2013 10:07:49 +1300 | BusinessDesk

Air NZ plans to raise stake in Virgin Australia to 25.9% after gaining approvals More >>

Health professionals condemn bailout of Solid Energy

Thu, 3 Oct 2013 16:14:45 +1300 | OraTaiao

Health professionals are highly critical of the recent move by the New Zealand government to bail out Solid Energy. The bailout involves a direct cash injection of $25 million of taxpayer money and another $130 million in loans.More >>

Woodward Partners research values Meridian shares at $1.81

Wed, 2 Oct 2013 18:10:36 +1300 | BusinessDesk

Oct. 2 (BusinessDesk) – The first of two independent research reports commissioned by the New Zealand stock exchange operator, NZX, on the Meridian Energy partial privatisation values the company’s shares at $1.81 apiece, some 21 cents above the capped price ...More >>

Axe the ACC tax now, not in election year

Tue, 1 Oct 2013 15:16:57 +1300 | New Zealand Labour Party

The Government talked up a crisis in ACC so it could push levies to artificially high levels as a backdoor route to get to surplus, ripping off Kiwis in the process, Labour’s ACC spokesperson Iain Lees-Galloway says.More >>

Govt bail-out of Solid Energy privatisation by stealth

Tue, 1 Oct 2013 14:15:49 +1300 | Green Party

The National Government’s proposed bail-out deal for Solid Energy is backdoor privatisation, the Green Party said today. Four foreign-owned banks – ANZ, BNZ, ASB and Westpac – will take a $75 million ownership stake in Solid Energy in return for writing ...More >>

Collins congratulates ACC on strong year

Tue, 1 Oct 2013 13:36:48 +1300 | New Zealand Government

ACC Minister Judith Collins says ACC’s commitment to client rehabilitation and sound investment has allowed the Corporation to make excellent progress, as shown in ACC’s 2013 annual report.More >>

Banks take $75M quasi-haircut on Solid Energy debt

Tue, 1 Oct 2013 11:58:20 +1300 | BusinessDesk

Oct 1 (BusinessDesk) – Banks that lent unsustainable amounts of debt to state-owned coal miner Solid Energy are taking a $75 million “hair-cut”, dressed up as an issue of redeemable preference shares that may never be repaid.More >>

Preparations Underway for 2013 Citizens Initiated Referendum

Mon, 30 Sep 2013 17:25:09 +1300 | Electoral Commission

The Electoral Commission wants to make it easy for people to take part in the Citizens Initiated Referendum on the question “ Do you support the Government selling up to 49% of Meridian Energy, Mighty River Power, Genesis Power, Solid Energy and Air ...More >>

 

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