Gov't to raise dividend payout ratio of state-invested companies to 40 pct ...

New Zealand announces energy company sale

kh close

 

Published : 2014-03-28 20:12
Updated : 2014-03-28 20:12

WELLINGTON, New Zealand (AP) -- New Zealand is closing the books on a contentious, multibillion dollar program of asset sales.

The government announced on Friday it would sell a minority stake in power company Genesis Energy for 736 million New Zealand dollars ($638 million). The company will list on the New Zealand stock market on April 17.

Including Genesis, New Zealand has sold 49 percent stakes in three power companies and a 20 percent stake in Air New Zealand over the past year, raising a total NZ$4.7 billion ($4.1 billion).

The government says the money has helped pay for schools and hospitals and reduced debt. Opponents say it's ideologically driven and unnecessary.

More than two-thirds of people who voted in a referendum last year said they opposed the sales.

 

 



Photo News

티아라 효민 멋진 뒤태에 남심 흔들

섹시백 선발대회 몸매 뽐내는 참가자들

카자흐 女배구선수 초특급 미모, 전세계 ‘깜짝’