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

 

US fund Capital Group buys stake in Infratil, Utilico sells

US fund Capital Group buys $51.7 mlin stake in Infratil as Utilico sells

By Suze Metherell

Jan. 20 (BusinessDesk) – US investment fund Capital Group has taken a 5.4 percent interest in Infratil, buying shares from Utilico Investments, a UK investor managed by Infratil director Duncan Saville’s ICM.

Los Angeles, US-based Capital Group bought 22.6 million shares at $2.28 last Thursday, an investment of about $51.7 million, bringing their total number of shares in the company up to 30.4 million, according to a substantial shareholder notice lodged with the stock exchange.

In a separate notice, Utilico said it reduced its holding to 8.8 percent, selling 17.1 million shares at $2.28, from its previous holding of 11.8 percent. The UK investor reduced its Infratil stake in December from 13.3 percent.

Utilico used to be known as Infratil International, whose directors included Saville, one of the original directors and a founder of Infratil.

Infratil shares were unchanged at $2.31 at the open of trading today.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Reserve Bank: Official Cash Rate Unchanged At 1.75 Percent

Global economic growth has increased and become more broad-based. However, major challenges remain with on-going surplus capacity and extensive political uncertainty... More>>

Kaikōura Earthquake: Private Insurers Receive $1.8b Claims

Insurance Council Chief Executive Tim Grafton said most is for commercial loss at $1.36 billion, with residential claims amounting to over $460 million. “...We have a high level of confidence that most people will have received settlement offers by the end of this year." More>>

ALSO:

Forms And Data: New Proposals To Simplify Personal Income Tax

The Government is proposing to make tax simpler for individuals, with people whose only income is from a salary, wages or investments no longer being required to file tax returns to receive tax refunds or to calculate any additional tax. More>>