Chevron to exit NZ Refining, shares halted for bookbuild of 11% stake

Wed, 27 May 2015

By Jonathan Underhill May 28 (BusinessDesk) - Chevron New Zealand, which operates the Caltex service station chain, will exit its holding in New Zealand Refining, selling its 11 percent stake via a bookbuild. The local unit of the second-largest US energy producer has entered a block trade agreement with Deutsche Craigs to sell its stake in New Zealand's only oil refinery business by way of a bookbuild. The refinery's shares were halted pending the transaction, the company said in a statement. Chevron NZ had its 35.5 million refinery s...

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