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

Sun, 17 Nov 2013

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...

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