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


Infratil to decide on Aust energy assets in 2 months

Infratil to decide on Aust energy assets in 2 months

By Paul McBeth

Jul. 14 (BusinessDesk) - Infratil, the infrastructure investor, expects to make a final decision on what to do with its Australian energy assets in September.

The Wellington-based company is continuing its strategic review of Infratil Energy Australia, "with parties expressing interesting in progressing options including outright purchase and merger combinations," it said in a statement. Infratil is in talks with some of those parties which it expects to wrap up in early September, when the preferred outcome will be chosen.

Managed by Morrison & Co, Infratil flagged with its results in May that it had started a review of the Lumo and Direct Connect Australia units of IEA to determine whether to sell the businesses.

Earnings at IEA fell to A$78 million in the year ended March 31, from A$97.7 million a year earlier, with the decline inflated by the effect of translating earnings back into a strong kiwi dollar.

Infratil shares fell 1.2 percent to $2.45, and have gained 9.3 percent this year.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Trade & Retail: Chinese Disaster Spells Quiet Season For NZ Fireworks Sales

In August, two massive explosions at a warehouse at the port in the port of Tianjin, Northern China, killing more than a hundred people and devastating large areas of the city. In the wake of the disaster, Chinese authorities rushed to regulate the distribution of all dangerous goods... More>>



Oceans: NOAA Declares Third Ever Global Coral Bleaching Event

As record ocean temperatures cause widespread coral bleaching across Hawaii, NOAA scientists confirm the same stressful conditions are expanding to the Caribbean and may last into the new year, prompting the declaration of the third global coral bleaching event ever on record. More>>

Scoop Business: A Decade Of Government Pre-Seed Investment

More publicly-funded science is being commercialised after a decade of government ‘pre-see’d investment, according to an independent review. More>>


Solid Energy: Plan To Shut Unprofitable Huntly East Mine

Solid Energy, the state-owned coal miner in voluntary administration, plans to shut down its unprofitable Huntly East mine and lay off 65 staff after deciding the site stands "no chance whatsoever" of finding a buyer. More>>


E Tū: Merger Creates NZ's Biggest Private Sector Union

E tū has been created by the merger of the Engineering, Printing and Manufacturing Union and Service and Food Workers’ Union. It represents more than 50,000 working New Zealanders in industries as diverse as aviation, construction, journalism, food manufacturing, mining and cleaning. More>>


Internet: NZ Govt Lifts Target Speeds For Rural Broadband

The government has lifted its expectations on faster broadband speeds for rural New Zealand as it targets increased spending on research and development in the country's information and communications technology sector, which it sees as a key driver for export growth. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news