Monday 4th August 2008
|Text too small?|
Sydney-based BBI is seeking partners to invest in two core assets, Powerco and WestNet Rail, which operates a 5,100km rail network in the southern half of Western Australia, it said in a statement. The decision follows a review started in June to strengthen BBI's balance sheet and free up cash for investments.
The sale comes four years after a unit of BBI, then Prime Infrastructure Networks, acquired Powerco from interests including local government organisations for NZ$680 million. The stock rose 2.2% to 90 cents today. It tumbled as much as 27% on June 13, after its parent's shares slid on concern it may have to make early repayment of loans.
No comments yet
New Zealand Rural Land Company Limited (NZX: NZL) Agreement to acquire large scale dairy asset portfolio
EROAD Limited (NZX: ERD) launches Clarity Solo Dashcam
22nd October 2021 Morning Report
Pictor ready to roll out game-changing COVID antibody test in New Zealand
Scott Technology Limited (NZX: SCT) Announces FY21 Results
21st October 2021 Morning Report
Greenfern Industries Limited (NZX: GFI) L&Q Notice
TruScreen Group Limited (NZX: TRU) Clinical Trial Results Highlight Efficacy of TRU Technology
20th October 2021 Morning Report
Freightways Limited (NZX: FRE) Acquisition of ProducePronto