Next partial privatisation in October, says Key

Mon, 13 May 2013

By Pattrick Smellie May 13 (BusinessDesk) - Prime Minister John Key has all but confirmed that Meridian Energy will be the next state-owned enterprise to be partially privatised, with a float of up to 49 percent of the government's single most valuable electricity asset set for October, market conditions permitting. Key told his post-Cabinet press conference the next part-sale would be "an energy company". Given Meridian was last valued at $6.5 billion in 2011, against Genesis Energy's $1.9 billion valuation, Meridian is the more attractive...

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