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Treasury picks Wellington PR and ad agencies for first privatisation

Thursday 23rd February 2012

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Wellington-based firms have won the first two contracts for the public relations and advertising relating to the government’s partial privatisation of state-owned energy companies.

Senate Communications has won the PR contract and Clemenger – for many years state-owned Meridian Energy’s advertising agency – has won the advertising contract with The Treasury to inform the public about the opportunity to buy shares in the electricity generator and retailer, MightyRiverPower.

Financial Market Authority scrutiny and upgraded securities legislation mean the campaign will likely be “plain vanilla” information rather than overtly promotional of MRP itself.

The sale process hopes to reap $7 billion from over the next five years in a policy that Finance Minister Bill English defended in a speech today outlining a predictable Budget in May.

Up to 49 percent of the shares in electricity generator-retailers MRP, Meridian and Genesis Energy, coal miner Solid Energy, and Air New Zealand.

The Treasury has also named Computershare Investor Services for registry services.

Chris Major, a former senior communications adviser and one-time private secretary to Cabinet Minister Murray McCully, to the marketing and communications director role., Chris Major as part of the four service providers who will help New Zealanders participate in the partial share float of Mighty River Power later this year.

The Treasury is responsible for implementing the government’s so-called “mixed ownership model” policy.

Costs for all suppliers and contractors across the mixed ownership programme are expected to be less than 2 per cent of total programme proceeds.

(BusinessDesk)

BusinessDesk.co.nz

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