Infratil, holding $755M cash following Z sale, sees Pac Hydro sale completed in December

Tue, 10 Nov 2015

By Sophie Boot Nov. 11 (BusinessDesk) - Infratil, which has built its cash reserves up to $755 million since profiting from the sale of Z Energy, expects the sale of potential acquisition target Pacific Hydro to be completed in December. The investment company managed by Wellington-based investment bank Morrison & Co added to its war-chest with the sale of its remaining 20 percent of Z, booking a profit of $392 million, and is in the process of raising up to $150 million via the sale of eight-year infrastructure bonds paying annual inter...

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