Please, stop selling our companies to the Aussies

The proposed Z Energy sale shows the difference between founder dominated companies and companies controlled by fund managers and professional directors. (Image: Adobe Stock)

Brian Gaynor

Sat, 13 Nov 2021

Z EnergyWhy are Z Energy directors recommending the sale of their company to Australia’s Ampol when there are exciting opportunities in the automotive fuel sector, particularly the switch to electric vehicles (EV)?The EV sector is buzzing and this week the startup electric-vehicle manufacturer Rivian Automotive listed on the Nasdaq after raising nearly US12 billion (NZ$17.13b), the largest US initial public offering (IPO) since 2014. Rivian’s share price closed at US$100.7 on Thursday New York time, a 29.1% appreciation over it...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Economy

Business confidence falls but inflationary pressures rise: NZIER

Firms’ hiring and investment intentions have also reduced.

Rebecca Howard 10:45am

Finance

ASB settles CCCFA class action for hefty $135.6m

It ended a four-year class action centred on disclosure obligations.

Andy Macdonald 10:31am

ASB settles CCCFA class action for hefty $135.6m

The Quiz Free

QuiznessDesk, Tuesday, Oct 07

Can you get them all correct without cheating?

The Quizmaster 9:15am

Sponsored

In a complex world, Kiwi investors can take comfort in mega forces

Enduring international forces bring clarity to uncertain times.

Blackrock

Sponsored

Fiji’s exclusive side revealed

Private islands and 5-star luxury, closer than you think.

Tourism Fiji

More Markets

Finance

ASB settles CCCFA class action for hefty $135.6m

It ended a four-year class action centred on disclosure obligations.

Andy Macdonald 10:31am

Finance

ASB pays $135.6m to settle long-running CCCFA class action

High-street lender ASB has agreed to pay $135.6 million to settle a class action brought against it for alleged breaches of the Credit Contracts and Consumer Finance Act (CCCFA).The settlement – without admission of liability or wrongdoing – concluded four years of legal proceedi...

Staff reporters 9:29am