Utilico trims Infratil stake

MATT NIPPERT
Last updated 11:45 20/01/2014

Relevant offers

Industries

A Team New Zealand win could put a $500m wind in our economic sails Taking the guesswork out of efficient farming Huge overhaul of ACC put on amber alert Westpac customers left unable to use eftpos or credit cards thanks to blip TVNZ acknowledges Netflix's influence on market with online revamp Reading cinema gets $27.5 million for earthquake damage to Courtenay Central Chart of the day: Peaks and troughs in bonds for Dunedin rentals Home building costs climb 3.5pc, but they should start to ease Environment Minister Nick Smith announces $19m plan to deal with 'blot' of tyre mountains Holiday-makers and migrants still finding NZ attractive

Infratil director Duncan Saville has trimmed his stake in the listed infrastructure firm, netting his Bermuda-based investment fund, Utilico, $39 million.

A substantial security-holder notice posted to the NZX this morning said that over the past month, Utilico reduced its stake in Infratil to 8.8 per cent from 11.8 per cent.

The sale of 17 million shares nets $39m for Utilico, formerly known as Infratil International.

The move follows a similar trim last year for Utilico that reduced its stake in Infratil from 13.3 per cent.

Saville has a long association with Infratil, having been appointed as a director in 1994, and he is also a director of Infratil's manager, HRL Morrison & Co.

Ad Feedback

- Fairfax Media

Special offers

Featured Promotions

Sponsored Content