IFT
18/12/2015 12:55
GENERAL
PRICE SENSITIVE
REL: 1255 HRS Infratil Limited
GENERAL: IFT: Infratil supports Trustpower Demerger Proposal
Following today's announcement from Trustpower outlining consideration of a
demerger of its Australian and New Zealand wind business, Infratil has
confirmed its strong support for the proposal.
The proposal involves separation into two New Zealand listed companies and
would result in all of the Australasian wind and solar assets being held by
NewCo, while the Trustpower Core business would continue to hold the
remaining New Zealand generation and retail assets.
The demerger will be subject to shareholder approval and would be achieved
via a Court approved scheme of arrangement. Infratil confirms that if the
demerger is approved, it intends to maintain its current 50.6% holding and
support the future capital requirements of both vehicles.
Marko Bogoievski, Infratil's CEO, said "The scale of the development
opportunities in Australia requires a focused vehicle with capacity to raise
future capital on an efficient basis. We are positive about the outlook for
renewable opportunities available to Trustpower and believe it is important
to structure the business to take advantage of these".
It is expected that more details of the proposal will be available to
Trustpower shareholders by the end of February 2016.
For further information:
Tim Brown
Telephone: 04 473 2399
End CA:00275410 For:IFT Type:GENERAL Time:2015-12-18 12:55:24
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