ACC buys bulk of Utilico's Infratil share sale

Thu, 15 Jan 2015

By Paul McBeth Jan. 16 (BusinessDesk) - The Accident Compensation Corp's investment arm, which manages $26.96 billion of assets to help fund the state-owned workplace insurer, lifted its stake in infrastructure investor Infratil, buying most of the shares sold by UK investment house Utilico Investments earlier this week. ACC bought 7.36 million shares for about $21.8 million on Jan. 14, taking its stake in Infratil to 11.3 percent, and cementing its spot as the company's biggest shareholder, according to documents lodged with the stock ex...

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