Shares in infrastructure investor Infratil rose 3c to $1.68 today on news the company, in a 50/50 consortium with the New Zealand Superannuation fund, has finalised the purchase of Shell New Zealand's downstream assets.

For a purchase price of $696.5 million plus a working capital adjustment, the consortium is buying Shell New Zealand's distribution and retail businesses and a 17.1% interest in the New Zealand Refining Co, whose shares eased 2c to $3.98.

Infratil sees the Shell Oil assets it is negotiating to buy as an opportunity to create a substantial New Zealand business at a time of growing consumer preference for local companies.

A consortium including Infratil and New Zealand Super Fund has been negotiating to buy Shell's retailing and other downstream assets. Infratil said the talks were subject to a number of conditions, some of which were material and outstanding.

If these were satisfied the deal was expected to be completed on April 1.

Six months after it first stared looking for a buyer for its New Zealand downstream businesses, Shell has now confirmed it is exclusively negotiating a sale with an Infratil and New Zealand Superannuation fund consortium.

Police on both sides of the Tasman are trying to trace online hackers who stole information from 1400 customers and potential customers of Shell Oil New Zealand who were applying for Shell fuel cards.

The same hackers stole similar information from 4500 Australians applying for Shell cards.

Shell spokeswoman Jackie Maitland says the information on the applications included company names and addresses, email addresses and some bank details.

She says both local and Australian police are working on the crime.

Shell Oil NZ made a $491 million profit in 2007, up 7.6 percent on the year prior.

The profit included the sale of its LPG business and the sale of the EnviroWaste business owned by Fulton Hogan, the DominionPost reported. Shell is a shareholder in Fulton Hogan.

The profit from the company's exploration and production business dipped 13 percent to $281m and profits from the retail business dipped by $8m to $38m.