Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Shell Optimistic About Fletcher Energy Deal

Shell Remains Optimistic About Fletcher Energy Deal

Shell New Zealand remains optimistic that it can satisfy the Commerce Commission and complete the proposed Fletcher Challenge Energy transaction.

Shell New Zealand Chairman and Chief Financial Officer; Ed Johnson, says the Company will be considering in detail the Commerce Commission’s findings over the coming days, and will look to meet with Commission representatives to clarify key issues.

Mr Johnson says that Shell acknowledges and notes the concerns raised by the Commerce Commission and wishes to move promptly and efficiently in addressing how it might move forward. However, due to the extreme market sensitivity and media speculation regarding this major transaction, Shell will not be commenting further at this time on how it will proceed.

“I think it is worth re-iterating, that our proposal for Fletcher Challenge Energy is a joint bid for the world-wide assets of that company and secures best value for FCE shareholders, as indeed has been recommended by their Board”, says Mr Johnson.

“The proposed significant investment reaffirms Shell’s commitment to New Zealand and underpins our desire to ensure the optimum recovery of the country’s domestic reserves utilising our technologies together with the skills of a committed, professional local workforce. This commitment represents a massive investment in the infrastructure of New Zealand, and will ensure that energy supplies are further developed and secured for the future. We are committed to safeguarding consumer interests, and therefore remain hopeful that the transaction can be completed according to plan.”


Mr Johnson says Shell’s next steps must, by necessity, remain confidential and the Company will not be elaborating on how it will proceed.

Ends

For further information contact:

Antonius Papaspiropoulos
Shell Corporate Communications Manager – Oceania

04-498-0380
021-459-868


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news