OIO signs off Vector transmission network sale to First State Funds

Wed, 06 Apr 2016

By Edwin Mitson April 6 (BusinessDesk) - The Overseas Investment Office has approved the sale of Vector's gas transmission and gas distribution businesses outside Auckland to the global fund manager, First State Funds. The fund manager is paying $952.5 million for the businesses, which operates the pipelines and stations which supply natural gas to most of the major cities and towns in the North Island, as well as the 309km Maui pipeline. It also supplies gas to retailers who service more than 60,000 customers through its distribution bu...

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