Vector to sell half of metering business for $1.7b

Vector to sell half of metering business for $1.7b
(Image: Vector)
Staff reporters
Vector is set to sell a 50% stake in its New Zealand and Australian metering business, Vector Metering, to private equity group QIC Private Capital (QIC).The deal is expected to generate proceeds of $1.74 billion, including about $980 million of acquisition debt, and values the business at $2.51b, compared to a book value of $650m.The agreement, which is supported by major shareholder Entrust, is conditional on consent from the Overseas Investment Office in New Zealand and approval under the Foreign Acquisitions & Takeovers Act in Australia...

More Markets

Ebos buys Vital Petfoods assets from receiver
Markets

Ebos buys Vital Petfoods assets from receiver

Distressed assets have been snapped up by the pet food maker.

Denise McNabb 18 Apr 2025
Tourism Holdings and inflation updates drive NZX up
Markets Market close

Tourism Holdings and inflation updates drive NZX up

Tourism Holdings could be one of the most directly impacted shares of the US tariffs.

Tom Raynel 17 Apr 2025
Heartland Bank accountant fined over insider trading
Markets

Heartland Bank accountant fined over insider trading

A former Heartland Bank accountant has been sentenced to six months’ home detention and ordered to pay a fine after pleading guilty on three charges relating to insider trading.Kevin Young, a former treasury accountant with Heartland Bank, purchased Heartland Group Holdings Limit...

Staff reporters 17 Apr 2025
Potential Mainland buyers may soon tap regulators
Primary Sector

Potential Mainland buyers may soon tap regulators

Fonterra's divestment process is gaining traction.

Riley Kennedy 17 Apr 2025