New Zealand Seeks To Sell $680M Stake In Utility Co.

Law360, New York (March 13, 2014, 1:15 PM EDT) -- New Zealand will start marketing the sale of a minority stake in power company Genesis Energy Ltd., touting low prices and incentives to entice investors as it hopes to raise as much as NZ$800 million ($680 million), it announced Thursday.

The New Zealand government is looking to unload between 30 and 49 percent of Genesis Energy, which is New Zealand's largest electricity and gas retailer, offering a share price range between NZ$1.35 and NZ$1.65, New Zealand Finance Minister Bill English and State Owned Enterprises Minister Tony...
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