Thursday 17th June 2010 |
Text too small? |
Solid Energy chairman John Palmer said the state-owned miner should be partially privatized to meet up to $10 billion of capital needs and because it is a lower political risk than other state-owned businesses.
“A partially listed model, similar to Air New Zealand, is really important for Solid Energy,” said Palmer, who also chairs the 75% state-owned airline.
He argued partially privatising Solid Energy would not expose the government to any more commercial; risk than it currently bears and, in his judgment, “the political risks for a company like Solid Energy are very low”.
“This can be one of NZ’s most-important companies,” he said.
“It’s not about selling the family silver, it is about gold plating the family silver that we have.”
Palmer said that without the opportunity of partial private ownership Solid Energy would not only struggle to achieve its commercial potential but would also struggle to attract and retain top management and board talent.
He made the comments in an address in Wellington.
Businesswire.co.nz
No comments yet
Fonterra appoints permanent COO
Manawa Energy FY24 Annual Results & Webcast Details
Seeka Provides the Results of Meeting - ASM
April 19th Morning Report
PGW Guidance Update
CNU - Commerce Commission releases draft expenditure decision
Spark announces departure of Product Director
TGG - T&G appoints new Director
April 18th Morning Report
SKC - APPOINTMENT OF CHIEF EXECUTIVE OFFICER