Infratil Limited has announced it will take full control of One New Zealand by acquiring Brookfield Asset Management Ltd's 49.95% stake for NZ$1.8 billion.
The deal will be funded by an NZ$850 million equity raise, cash reserves and debt facilities.
The acquisition values One NZ at an enterprise value of NZ$5.9 billion and provides Infratil with full control of the business and a focus on long term value creation.
The equity raise is a NZ$750 million underwritten placement and a NZ$100 million non-underwritten retail offer.
All Infratil directors intend to participate in the equity raising.
See more
