Mobil Oil NZ sale of Channel Infrastructure stake doesn't impact operations

Marsden Point fuel import terminal. (Image: Supplied)

Thu, 14 Dec 2023

Mobil Oil New Zealand’s deal to sell down its stake in Channel Infrastructure in a block trade for $72.6 million will have no impact on operations, both companies confirmed.In a filing on the stock exchange Thursday, Channel Infrastructure said Mobil NZ had appointed Jarden to underwrite and manage the sale of its 53,760,000 shares for $1.35 a share. The sale is expected to happen on Dec 18.Mobil NZ holds 14.2% of Channel Infrastructure, which operates the Marsden Point fuel import terminal. Its shareholding had reduced from 17.2% when it...

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