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...

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