Infratil
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| Type | Public (NZX: IFT) |
|---|---|
| Industry | Electricity generation Electricity retailing Natural gas retailing Airports Public transport |
| Founded | 1994 |
| Headquarters | Wellington, New Zealand |
| Key people | David Newman, Chairman Lloyd Morrison, Founder Marko Bogoievski, CEO Kevin Baker, CFO Dr. Bruce Harker, Energy Tim Brown, Investor Relations |
| Website | www.infratil.co.nz |
Infratil Limited (NZX: IFT) is a New Zealand-based infrastructure investment company. It owns several airports, electricity generators and retailers, and a public transport business, with operations in New Zealand, Australia and Europe. Infratil was founded by Lloyd Morrison, a Wellington-based merchant banker. Morrison's company, H. R. L. Morrison & Co, is responsible for Infratil's management and administration.
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[edit] 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.[1] From its founding in 1994 to March 31, 2011 Infratil delivered average annual returns of 18%.[2]
[edit] Investments
The following companies are either wholly or partially owned by Infratil.
[edit] Energy
- Lumo Energy
- TrustPower
- 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.[3] Initially named Greenstone Energy, it began to re-brand the service stations as Zed 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.[4]
A holding in Energy Developments Limited [1] was sold into the takeover offer by Greenspark Power Holding Ltd for A$139.9 million in January 2010.[5]
[edit] Airports
- Glasgow Prestwick Airport
- Kent International Airport
- Lübeck Airport 30 October 2009 Infratil exercised its put option in respect of its 90% shareholding in Luebeck Airport and ownership has transferred to the City of Lübeck.[6]
- Wellington International Airport (66.7% ownership, with Wellington City Council)
Infratil is attempting to develop a new commercial airport at Whenuapai in New Zealand.
[edit] Transport
- NZ Bus - 100% ownership, purchased in 2005.[7]
- Snapper card
[edit] Property
- Infratil Infrastructure Property
[edit] References
- ^ "Deloitte/Management Magazine Company of the Year" (PDF). New Zealand Management. 2007-12. http://www.management.co.nz/top200/pdf/Company07.pdf. Retrieved 2009-06-29.
- ^ "Infratil Annual Report" (PDF). www.infratil.com. 2011-06-26. http://www.infratil.com/media/PDF/ift_ar2011.pdf. Retrieved 2011-06-26.
- ^ NZX announcement
- ^ Rutherford, Hamish (11 May 2011). "Shell petrol stations to be renamed 'Z'". The Dominion Post. http://www.stuff.co.nz/dominion-post/news/4988846/Shell-petrol-stations-to-be-renamed-Z. Retrieved 4 October 2011.
- ^ NZX announcement
- ^ NZX announcement
- ^ "Infratil acquires Stagecoach for $250m". National Business Review. 2005-11-21. http://www.nbr.co.nz/article/infratil-acquires-stagecoach-250m. Retrieved 2009-06-29.
