Gull could be roadblock to Z sale

Gull could be roadblock to Z sale
Ampol subsidiary Caltex Australia bought the NZ operations of Gull in 2017 for $340m. (Image: Getty)
Pattrick Smellie
Australia’s Ampol has made a full takeover offer for New Zealand's largest transport fuels distributor, Z Energy, valuing the company at almost $2 billion.The offer, pitched at $3.78 a share was announced after Z came out of trading halt on the NZX this morning, for a total value of $1.966 billion.However, a competition lawyer with deep experience of transport fuels markets believes such a deal will be very hard to get past the Commerce Commission while Ampol continues to own cut-price petrol retailer, Gull Petroleum.“Gull&rsquo...

More Markets

Southland windfarm rejection appropriate: EDS
Markets

Southland windfarm rejection appropriate: EDS

Contact's application was flawed, says Gary Taylor.

Forsyth Barr says Trump’s tariffs are hurting Mainfreight
Markets

Forsyth Barr says Trump’s tariffs are hurting Mainfreight

Forsyth Barr analysts lowered their 12-month target price on Mainfreight by 8.8%.

NZ sharemarket down, but Ryman up 11% in two days
Markets Market Close

NZ sharemarket down, but Ryman up 11% in two days

The S&P/NZX 50 Index closed at 12,305.79 – down 28.39 points or 0.23%.

Graham Skellern 27 Mar 2025
Contact to appeal Southland Wind Farm decision
Markets

Contact to appeal Southland Wind Farm decision

Contact Energy plans to appeal the Southland wind farm rejection and reapply under the new fast-track consenting process.In March, a fast-track consenting panel, convened under the now-replaced covid-era law, rejected Contact’s application to build a $1 billion wind farm capable...

Staff reporters 27 Mar 2025