IFT
29/09/2015 17:34
ASSET
PRICE SENSITIVE
REL: 1734 HRS Infratil Limited
ASSET: IFT: Infratil - intention to dispose of 20% stake in Z Energy
Infratil advises that it intends to dispose of its 20% stake (80 million
shares) in Z Energy Limited via a book build process, commencing on the
evening of Tuesday 29 September 2015.
The sale of Infratil's stake will be coordinated with the sale of a 9.725%
stake (38.9 million shares) held by the New Zealand Superannuation Fund via
the same book build. The Fund's Chief Investment Officer, Matt Whineray,
said retaining a stake of more than 10% in the company reflected the
Guardians' confidence in Z Energy's business strategy and management team.
"We look forward to continuing our relationship with Z Energy through the
retention of our significant minority stake." Mr Whineray said. The New
Zealand Superannuation Fund will retain a stake of more than 10% in Z Energy
following the sale.
Infratil and the New Zealand Superannuation Fund have appointed Deutsche
Craigs New Zealand and Deutsche Bank Australia as book runners for the sale
process. The indicative price range for the book build has been set at $6.00
to $6.20 per share. Infratil Limited expects to announce the outcome of the
book build process by 9am on Thursday 1 October 2015.
Any enquiries should be directed to:
Mark Flesher, Investor Relations, Infratil Limited
[email protected]
Dee Radhakrishnan, New Zealand Superannuation Fund [email protected]
End CA:00270962 For:IFT Type:ASSET Time:2015-09-29 17:34:31
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