Prime Ministerial Press Conference: 16 September 2013

The Prime Minister held a press conference today with Tony Ryall, Minister for State-Owned Enterprises, to announce that Meridian Energy is expected to list on NZX on 29 October. Advertisements will run about the asset sales from tonight.

Up to 49% of Meridian will take place over two months. New Zealanders will be at the front of the queue for investing. Key estimates that around 85-90% of these companies will be owned by New Zealanders, as opposed to 100%.

The Genesis Energy share offer will take place in early 2014. Air New Zealand is also back in the game, though process will differ due to it being a publicly-listed company. Key expects it will be sold prior to the next election.

The current best estimate of returns from the sale of Meridian is between $5 and $7 billion, probably at the lower end of the scale. Key said that the public had been "overwhelmingly supportive" of the asset sales campaign.

Questions were also asked about David Cunliffe's selection as Labour Party leader, the current state of Trans-Pacific Partnership Agreement negotiations, Chorus, and the Coalition for Fair Internet Pricing.

ENDS

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