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[sharechat] Infratil / Trustpwer

From:	"1amiga" <1amiga@ihug.co.nz>
Date:	Sat, 25 Aug 2001 08:17:17 +1200

New Zealand government-owned energy companies Meridian Energy Ltd. and Genesis Power Ltd. are preparing rival takeover bids for listed electricity retailer TrustPower Ltd., the New Zealand Business Times reported Friday.

A full bid for TrustPower is expected to value the company at more than NZ$900 million, but any final decision to proceed will require the approval of State Owned Enterprises Minister, Mark Burton, the newspaper said.

Both state-owned companies are, however, expected to face strong competition in any battle for control of TrustPower from Contact Energy Ltd., which has appointed Credit Suisse Fist Boston to enter discussions with TrustPower's
main shareholders about a potential bid, the report said.

All three suitors have had talks with Australian Gas Light Co., which owns 21% of TrustPower, the report said.

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