ACC holds 6%, a Morrison (presumably a relative of the late HL Morrison) and a few associates 2% and NZ Super Fund 1%. These seem to be the largest holdings. Other large holdings are depositories presumably on behalf of Kiwisaver and other funds. Any Aus Super holding would be via one of the depositories, the largest depository holding being 7%. Seems Aus Super would need to get ACC and/or sufficient fund managers on side. IFT holds 51% of Trustpower, NZ's 5th largest electricity 'gentailer' (generator/retailer, such companies cannot own distribution networks), so it seems Aus Super envisages distributing the Trustpower shares to sellers to avoid triggering a mandatory acquisition offer. Foreign ownership of Trustpower and for that matter Wellington Airport (66% Infratil, 33% local council) would require approval that may be difficult to obtain.75% shares held by 239 holders, the other 25% by 18000 odd holders
IFT Price at posting:
$6.87 Sentiment: Hold Disclosure: Held
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