Solid Energy support for move to partial assets sales
Wednesday, 26 January 2011, 4:31 pm
Press Release: Solid Energy NZ
Solid Energy support for move to partial assets
sales
26 January 2011
Solid Energy
welcomes the Prime Minister’s announcement today that the
Government has asked Treasury to advise on the merits of
selling up to 49% of the assets of four state-owned
enterprises including Solid Energy.
Chairman, John
Palmer, says, “We will work constructively to identify an
optimal equity structure and the timing that would best
benefit the company and the shareholder. We recognise that
the shareholder wishes to reduce its borrowing while Solid
Energy needs to raise significant capital to advance our
business plans, including using Southland lignites to
address key issues of national energy security and
affordability.
“I believe that the intention of this
announcement is entirely consistent with my public position
and statements over the past year which recognises the
opportunity for New Zealand that can be created by moving in
this direction and the mixed ownership model that is under
discussion.”
ENDS
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