Munich Re joins Infratil, NZ Super on the Longroad journey

Infratil chief executive Jason Boyes says the company is “extremely happy” with the outcome of the new valuation and transaction. (Image: Infratil)

Riley Kennedy

Mon, 01 Aug 2022

Infratil's Longroad Energy investment has agreed to sell a 12% stake to German insurer Munich Re for US$300 million.The deal puts a pre-money valuation of US$2 billion on the renewable energy developer. Infratil and co-investor, the New Zealand Superannuation Fund, would each invest another US$100m into Longroad, which would see their respective 40% stakes diluted to 37%. Longroad's executive team would keep a 14% stake in the firm. Infratil chief executive Jason Boyes said Infratil's US$800m pre-money valuation of the Lon...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}