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Infratil arm considers quitting

By Nick Stride

Friday 29th September 2000

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Utilico International, which last year fought off a wind-up campaign from Sir Ron Brierley's GPG, is looking at winding itself up.

The Morrison & Co-managed Utilico, formerly Infratil International, will seek approval at the annual meeting on November 13 to return $20 million of capital to shareholders.

Following last year's sale of a stake in Airport Group International, it has only two significant investments left - 1.5% of TBI, which owns smaller airports in Wales, Ireland, Sweden and the US, and Brisbane container-terminal development Sea-Land Australia Terminals Services.

Utilico lost $2.7 million in the June year, mainly because of a drop in the value of TBI shares. Directors have asked Morrison & Co to report on options for the company.

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