Thursday 20th December 2012
|Text too small?|
State-owned Meridian Energy sold its Energy for Industry subsidiary to Central Otago-based Pioneer Generation in a transaction worth more than $50 million.
Energy for Industry, which was established in 2000, provides energy management services to companies, according to its website. The sale is part of Meridian's plan to divest non-core subsidiaries, it said.
Meridian is one of the state-owned power companies ear-marked for a partial sale by the government. Pioneer is a community trust-owned generator based in Alexandra.
"EFI is New Zealand's leading provider of energy solutions for some of the country's key sectors. It has found the right new owner that will take this business to the next level," said chief executive Mark Binns.
No comments yet
Sky CEO put on notice by chunky vote against salary share scheme
Unions gearing up to oppose 'market tests' on Fair Pay Agreements
Mandatory farm plans scorned as 'tick box' exercises
Kiwi dollar firms on weak US retail data, capped by rate-cut expectations
17th October 2019 Morning Report
SkyCity hoses down union claims over potential job losses
OPINION: Fair Payment Agreements and 'swallowing vomit' - the lot of the CTU
MARKET CLOSE: NZ shares gain; Restaurant Brands climbs on upbeat outlook
NZ dollar stalls after Bascand's rate cut comments
Bascand says RBNZ will consider changing bank capital proposals