QIC stays quiet on Powerco speculation

Queensland Investment Corporation is reportedly reviewing its stake in electricity lines company Powerco. (Image: NZME)

Thu, 11 Jan 2024

An Australian investor with a controlling share in one of the biggest electricity lines companies in New Zealand won’t comment on a report saying it’s reviewing its position.Queensland Investment Corporation (QIC) manages funds that own 58% of Powerco, with the remaining 42% owned by funds managed by Dexus, which acquired the former manager of the funds, AMP Capital, last year.Powerco, headquartered in New Plymouth, owns and operates more than 28,000 kilometres of electricity lines and 6,000km of gas pipes, providing energy to more...

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