Infratil to make decision on Aust energy assets in September

Marko Bogoievski, Infratil Chief Executive
Infratil 12-month price history (NZX.com)

Infratil [NZX: IFT], the infrastructure investor, expects to make a final decision on what to do with its Australian energy assets in September.

The Wellington-based company is continuing its strategic review of Infratil Energy Australia, "with a parties expressing interesting in progressing options including outright purchase and merger combinations," it said in a statement. Infratil is in talks with some of those parties which it expects to wrap up in early September, when the preferred outcome will be chosen.

The investment firm, which is managed by Morrison & Co, flagged with its results in May that it had started a review of the Lumo and Direct Connect Australia units of IEA to determine whether to sell the businesses.

Earnings at IEA fell to A$78 million in the year ended March 31, from A$97.7 million a year earlier, with the decline inflated by the effect of translating earnings back into a strong kiwi dollar.

Infratil shares fell 1.2 percent to $2.45, and have gained 9.3 percent this year.

(BusinessDesk)


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7188 0.0000 0.00%
AUD 0.9481 0.0000 0.00%
EUR 0.6451 0.0000 0.00%
GBP 0.5452 0.0000 0.00%
HKD 5.5895 0.0000 0.00%
JPY 73.1040 0.0000 0.00%

Commods

Commodity Price Change Time
Gold Index 1349.0 16.400 2016-07-29T00:
Oil Brent 43.5 -1.170 2016-07-29T00:
Oil Nymex 41.6 0.430 2016-07-29T00:
Silver Index 20.3 0.155 2016-07-29T00:

Indices

Symbol Open High Last %
NZX 50 7306.4 7357.7 7306.4 0.57%
NASDAQ 5162.1 5175.8 5155.0 0.14%
DAX 10320.8 10355.3 10274.9 0.61%
DJI 18442.5 18466.5 18456.3 -0.13%
FTSE 6721.1 6740.5 6721.1 0.05%
HKSE 22056.0 22152.8 22174.3 -1.28%
NI225 16359.7 16679.2 16476.8 0.56%
ASX 5556.6 5570.4 5556.6 0.10%