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Infratil

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Title: Infratil  
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Subject: NZ Bus, NZX 50 Index, List of companies of New Zealand, Spark New Zealand, Z Energy
Collection: Companies Listed on the New Zealand Stock Exchange, Companies of New Zealand
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Infratil

Infratil Limited
Public
Traded as NZX: IFT
ASX: IFZ
Industry Electricity generation
Electricity retailing
Natural gas retailing
Airports
Public transport
Founded 1994 (1994)
Headquarters Wellington, New Zealand
Key people
Mark Tume, Chairman
Marko Bogoievski, CEO
Phillippa Harford, CFO
Bruce Harker, Energy
Tim Brown, Investor Relations
Owner New Zealand Central Securities Depository Limited - 50.27%[1]
Website .com.infratilwww

Infratil Limited is a New Zealand-based infrastructure investment company. It owns airports, electricity generators and retailers, and a public transport business, with operations in New Zealand and Australia. Infratil was founded by the late Lloyd Morrison, a Wellington-based merchant banker. Morrison's company, H. R. L. Morrison & Co, is responsible for Infratil's management and administration.

Contents

  • History 1
  • Investments 2
    • Energy 2.1
    • Social Infrastructure 2.2
    • Transport 2.3
      • Current 2.3.1
      • Former 2.3.2
    • Property 2.4
  • References 3
  • External links 4

History

Infratil was one of the world's first listed infrastructure funds when it was established and listed on the New Zealand Exchange in 1994. Its first investment was a minority stake in Trustpower. It expanded into airport ownership in 1998 when it bought a 66% shareholding in Wellington Airport. Infratil was named Deloitte/Management Magazine Company of the Year in 2007.[2] From its founding in 1994 to March 31, 2011 Infratil delivered average annual returns of 18%.[3]

Investments

The following companies are either wholly or partially owned by Infratil.

Energy

  • Trustpower - 50.59% [4]
  • Z Energy. On 29 March 2010 a consortium owned 50% by Infratil and 50% by the Guardians of New Zealand Superannuation executed a sale and purchase agreement for the acquisition of Shell New Zealand’s distribution and retail businesses and 17.1% interest in the New Zealand Refining Company. The agreement was completed on April 1, 2010.[5] Initially named Greenstone Energy, it began to re-brand the service stations as Z in May 2011. Chief executive Mike Bennetts said that the cost of using the Shell brand, believed to be about NZ$10 million a year, was a factor in the decision.[6] Infratil currently own 20% of Z Energy.
  • Energy Developments Limited. A holding in Energy Developments Limited was sold into the takeover offer by Greenspark Power Holding Ltd for A$139.9 million in January 2010.[7]

Social Infrastructure

  • Metlifecare. On 25 October 2013 Infratil advised the NZX that it was to acquire a 19.9% in Metlifecare New Zealand's second largest village and aged care operator. The agreement was completed on November 28, 2013.

Transport

A new Link bus near Auckland Hospital
Wellington Airport from Mt Victoria

Current

Former

  • Glasgow Prestwick Airport (sold to the Scottish government in November 2013)[11]
  • Manston Airport (sold to Ann Gloag in November 2013)[12]
  • Lübeck Airport (Infratil exercised its put option in respect of its 90% shareholding and ownership has transferred to the City of Lübeck on 30 October 2009)[13]

Property

  • Infratil Infrastructure Property

References

  1. ^ https://www.business.govt.nz/companies/app/ui/pages/companies/597366/shareholdings
  2. ^ "Deloitte/Management Magazine Company of the Year" (PDF). New Zealand Management. December 2007. Retrieved 2009-06-29. 
  3. ^ "Infratil Annual Report" (PDF). www.infratil.com. 2011-06-26. Retrieved 2011-06-26. 
  4. ^ https://www.business.govt.nz/companies/app/ui/pages/companies/604040/shareholdings
  5. ^ NZX announcement
  6. ^ Rutherford, Hamish (11 May 2011). "'"Shell petrol stations to be renamed 'Z.  
  7. ^ NZX announcement
  8. ^ https://www.business.govt.nz/companies/app/ui/pages/companies/922040/shareholdings
  9. ^ https://www.business.govt.nz/companies/app/ui/pages/companies/396240/shareholdings
  10. ^ "Infratil acquires Stagecoach for $250m". National Business Review. 2005-11-21. Retrieved 2009-06-29. 
  11. ^ http://www.bbc.co.uk/news/uk-scotland-glasgow-west-25055531
  12. ^ http://www.bbc.co.uk/news/uk-england-kent--25154220
  13. ^ NZX announcement

External links

  • Official website
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