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The Treasury has appointed Deutsche Bank and Craigs Investment Partners as the Crown’s sole financial advisor for preparatory work it is doing to extend the mixed ownership model to four State Owned Enterprises.
Treasury’s general manager John Crawford said the firms were "selected after a rigorous assessment process from a strong line up of credible candidates.”
The government is planning to selldown its stakes in Mighty River Power, Meridian Energy, Genesis Energy, and Solid Energy and to reduce its shareholding in Air New Zealand. The government will retain a majority stake in all the companies.
Deutsche Bank and Craigs Investment Partners will provide advisory and project management services, starting immediately. This contract period ends prior to the November general election.
In the next few days, Treasury expects to issue a Request for Proposal (RFP) for scoping studies.