Infratil says it wouldn't approve Mercury move above 19.99% of Tilt

Mon, 14 May 2018

By Jonathan Underhill May 15 (BusinessDesk) - Infratil, the investment company that owns 50.8 percent of Tilt Renewables, says it wouldn't approve new shareholder Mercury NZ increasing its current 19.99 percent holding, having made its own offer for the stock. Yesterday Mercury said it agreed to buy 19.99 percent of Tilt, the wind and solar generation company split from Infratil-controlled Trustpower in 2016, from the Tauranga Electricity Consumer Trust (Tect) for $144 million, or $2.30 a share, a 24 percent premium to its last trading pr...

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