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Sovereign Wealth Funds Briefing - Categorized | Investment

Infratil, Super Fund stand to triple money on Z investment

Posted on 26 July 2013

Infratil and the New Zealand Superannuation Fund stand to at least triple their money on Z Energy in next month’s initial public offering, having used their financial strength to buy the former Shell assets when markets were still reeling from the global financial crisis.
The Wellington-based investment funds contributed about $210 million each toward the $696.5 million purchase price, with the balance funded by debt that has since been repaid or transferred to Z Energy’s books. They plan to list up to 50 per cent-to-60 per cent of the company next month on the NZX and ASX………………………………………..Full Article: Source


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