Merchant bank Morrison & Co. said Tuesday utilities investor Infratil Ltd. (IFT.NZ) in consortium with the government New Zealand Superannuation Fund has entered into exclusive negotiations with Royal Dutch Shell Plc (RDSA) over the possible acquisition of Shell New Zealand's refining and downstream distribution and retailing businesses.

In a statement, Morrison & Co. which has close connections to Infratil, said the scope of the proposed transaction includes but is not limited to a 17.1% stake in the New Zealand Refining Company, Shell New Zealand's supply-and-distribution infrastructure and its retail and B2B fuel business.

"The consortium has submitted a non-binding conditional proposal to Shell and has entered into the final phase of due diligence," it said.

"Discussions and negotiation will continue during November and further advice on the status of the discussions will be provided as material developments occur."

-By Simon Louisson, Dow Jones Newswires; 64-4-471-5990; simon.louisson@dowjones.com

 
 
Infratil (ASX:IFT)
Historical Stock Chart
Von Nov 2024 bis Dez 2024 Click Here for more Infratil Charts.
Infratil (ASX:IFT)
Historical Stock Chart
Von Dez 2023 bis Dez 2024 Click Here for more Infratil Charts.