BP exits Channel Infrastructure in $46m deal

The NZ arm of multinational oil company BP has sold its stake in Channel Infrastructure. (Image: Getty)

Wed, 19 Jun 2024

BP New Zealand has sold its stake in Channel Infrastructure, the former refinery turned fuel import terminal at Marsden Point, for $46 million.Channel Infrastructure disclosed the change, which leaves Z Energy as the sole remaining oil company with a large shareholding, in an update to the NZX on Wednesday.According to the update, BP NZ, which trades as bp, entered a block trade agreement with Craigs Investment Partners to sell its entire 8.336% stake in Channel.At $1.46 per share, the sale of the 31,572,640 shares works out at around...

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