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IFT Infratil Ltd

11.53
0.21 (1.86%)
05 Dec 2024 - Closed
Delayed by 20 minutes
Share Name Share Symbol Market Type
Infratil Ltd ASX:IFT Australian Stock Exchange Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.21 1.86% 11.53 11.51 11.58 11.63 11.40 11.44 323,852 05:12:07

New Zealand Infratil, Shell New Zealand, New Zealand Superannuation Sign Letter Of Intent

20/12/2009 11:13pm

Dow Jones News


Infratil (ASX:IFT)
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Utilities and airport investor Infratil Ltd. (IFT.NZ) and the New Zealand Super Annuation Fund said Monday they have signed a letter of intent with Shell New Zealand, a unit of Royal Dutch Shell PLC (RDSA), regarding the potential acquisition of its downstream assets.

In a statement the two said the letter of intent is not an acquisition contract.

"However it does represent Infratil and the Guardians' (of New Zealand Superannuation) clear intention to proceed to acquire Shell's New Zealand downstream assets if relevant pre-requisites are met including the securing of third-party approvals," it said.

Late Friday Infratil said the "process is significantly advanced and is expected to complete early in 2010."

-By Rebecca Howard, Dow Jones Newswires; 64-4-471-5990; rebecca.howard@dowjones.com

 
 

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