Infratil reaps $392M profit on sale of 20% of Z at $6/share, lowers guidance post sale

Wed, 30 Sep 2015

By Jonathan Underhill Oct. 1 (BusinessDesk) - Infratil will book a profit of $392 million on the sale of its remaining 20 percent stake in Z Energy and said it will use the funds to pursue growth opportunities. Infratil sold the 80 million shares at $6 apiece following a bookbuild in which the New Zealand Superannuation Fund sold 9.7 percent , or 38.9 million shares at the same price, leaving the fund with about 10 percent of Z. Infratil's profit, which is subject to finalisation of its share of Z's earnings for the six months ended Sept....

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