Utilico trims Infratil stake

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

Relevant offers

Industries

Qantas lounge dress code sparks social media backlash Meeting bid to aid Waimea Contract Carriers Xero's Rod Drury steps up war of words with MYOB Proposed ban may stop wine adverts Hugh Green's family fight over his $400 million fortune Datacom wins $247m Australian contract Jobs lost as MBIE restructures Solid Energy chairwoman quits over disagreement with Finance Minister Auckland port told to stop wharf extension for now Property values outside of Auckland flattening out, says QV

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