Ann: GENERAL: IFT: Completion of Sale of Infratil Energy Australia

• Release Date: 30/09/14 15:12
• Summary: GENERAL: IFT: Completion of Sale of Infratil Energy Australia
• Price Sensitive: No
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					IFT
30/09/2014 15:12
GENERAL

REL: 1512 HRS Infratil Limited

GENERAL: IFT: Completion of Sale of Infratil Energy Australia

Infratil today announced completion of the sale of 100% of Lumo Energy
(including its generation assets) and Direct Connect to Snowy Hydro Limited
for gross proceeds of A$646 million.

Infratil expects its net cash proceeds from the sale of its interest to
amount to approximately NZ$668 million. The final NZ$ proceeds are dependent
on the working capital adjustment, which will be finalised after the
completion date, and the NZ$:A$ exchange rate.

Updated Infratil Group Guidance
Infratil advises that its net debt at 30 September 2014 is NZ$354 million,
comprising infrastructure bonds of NZ$989 million, other drawn debt of NZ$111
million, and cash balances held of $746 million, prior to settlement of
outstanding sales costs estimated at NZ$51 million.

As previously advised, Infratil will be assessing the full suite of capital
management alternatives against ongoing opportunities for new investment and
report on any decisions as that assessment is completed. Infratil expects
that it will be in a position to provide a further update on this review no
later than at its half year results announcement scheduled for 11 November
2014.

Marko Bogoievski
Chief Executive Officer
Infratil

Please see attached the full release.
End CA:00255895 For:IFT    Type:GENERAL    Time:2014-09-30 15:12:15