Bank of New York Mellon emerges with 8.1 percent stake in Meridian Energy

Wed, 30 Oct 2013

By Tina Morrison Oct 31 (BusinessDesk) – Bank of New York Mellon Corp, which has US$1.5 trillion of assets under management, has bought 8.1 percent of Meridian Energy after New Zealand’s government sold 49 percent of the nation’s largest energy electricity retailer and generator in an initial public offering this month. New York-based BNY Mellon, which is also the world’s largest custody bank with US$27.4 trillion in assets under custody, bought the shares in the days following the stock listing on Tuesday, according to a substantial security...

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