Z Energy more than halfway through service station divestments

Wed, 28 Sep 2016

By Sophie Boot Sept. 29 (BusinessDesk) - Z Energy has signed contracts to sell 12 of the 20 sites it has to quit as part of its acquisition of Chevron New Zealand and is negotiating contracts for the rest. The Wellington-based service station operator this month signed or was still negotiating contracts for all 20 sites, it said in a statement. The cost of divesting the assets will be about $11 million, though $5.5 million of that is because Z decided to buy three other service stations to then divest so it could avoid having to sell "oth...

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