Infratil, NZ Super Fund stand to triple their money on Z Energy investment

Fri, 26 Jul 2013

By Jonathan Underhill July 26 (BusinessDesk) – Infratil and the New Zealand Superannuation Fund stand to at least triple their money on Z Energy in next month’s initial public offering, having used their financial strength to buy the former Shell assets when markets were still reeling from the global financial crisis. The Wellington-based investment funds contributed about $210 million each toward the $696.5 million purchase price, with the balance funded by debt that has since been repaid or transferred to Z Energy’s books. They plan to list...

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