Infratil robs Aussie Super of plum assets with Tilt disposal

Construction at Tilt's newest NZ windfarm, Waipipi in south Taranaki.

Mon, 15 Mar 2021

Infratil has announced the disposal of its 65.6% shareholding in Tilt Renewables at a substantial premium to recent valuations, robbing unwanted takeover bidder Australian Super of a plum part of the Wellington-based company’s Australian assets.The sale represents a $1.93 billion payday for Infratil, which it says is a more than 99% premium on the $704.1 million carrying value of the stake recorded at Sept 30 last year.The transaction values Tilt shares at $7.80 apiece, compared to last Friday’s closing price of $6.48, having risen...

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