Government to sell 20 percent of Air NZ, trimming stake to 53 percent, beating referendum

Government to sell 20 percent of Air NZ, trimming stake to 53 percent, beating referendum
Nov. 17 (BusinessDesk) – The government is selling 20 percent of Air New Zealand, worth $363 million at Friday’s price, via a bookbuild to institutions and brokers, reducing the Crown’s holding to 53 percent and beating a referendum on asset sales. Craigs Investment Partners, Deutsche Bank and Goldman Sachs have been hired for the selldown, which will start tomorrow and be completed by Tuesday evening, according to a statement from Finance Minister Bill English and State-Owned Enterprises Minister Tony Ryall. Air NZ shares last traded on Fri...