Govt hoping for $1B from partial sale of Genesis Energy

Tue, 03 Dec 2013

By Pattrick Smellie Dec 4 (BusinessDesk) – The government is expecting to reap between $700 million and $1.1 billion from the sale next year of 49 percent of Genesis Energy, the only state-owned power company not to be partially privatised so far. Finance Minister Bill English told the finance and expenditure select committee this morning that the government would be formally revising downwards its estimate of between $5 billion and $7 billion in proceeds from its controversial asset sales programme. The revision will be contained the Half...

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