Vector shareholders overwhelmingly back sale of gas assets

Wed, 16 Dec 2015

By Edwin Mitson Dec. 16 (BusinessDesk) - Shareholders in Vector, the gas and electricity distributor, have voted overwhelmingly to sell its gas transmission and distribution assets outside Auckland to Australian investor First State Funds for $952.2 million. At a special meeting in Auckland today, the resolution in favour of the sale of Vector Gas was backed by 813,399,422 votes, while 612,242 were cast against. The result means fewer than 1 percent of votes were cast against the deal. The special meeting had to be held because the value...

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