Investment banks signed up for asset sales
(30 January 2012 – New Zealand) The New Zealand Treasury appointed three investment banks as joint lead managers for the sale of a minority stake in power generator and retailer Mighty River Power.
The companies are First New Zealand Capital/Credit Suisse Australia, Macquarie Capital New Zealand and Goldman Sachs New Zealand.
Treasury said the investment banks will be responsible for project management, consultancy, execution and advisory services for the initial public offer (IPO).
The Treasury has also appointed Bell Gully as its legal advisor.
The Government has said it expects to proceed with the sale of up to 49 per cent of the company later this year.
The Treasury has appointed a panel of six firms that can potentially act in future asset sales. The other three are UBS New Zealand, Forsyth Barr/Merrill Lynch, and Deutsche Bank/Craigs.
Treasury said it would now look to contract 'high quality broking firms and other distributors with channels to retail investors' to take a lead role in achieving widespread New Zealand ownership of Mighty River Power.
Treasury said the investment banks will be responsible for project management, consultancy, execution and advisory services for the initial public offer (IPO).
The Treasury has also appointed Bell Gully as its legal advisor.
The Government has said it expects to proceed with the sale of up to 49 per cent of the company later this year.
The Treasury has appointed a panel of six firms that can potentially act in future asset sales. The other three are UBS New Zealand, Forsyth Barr/Merrill Lynch, and Deutsche Bank/Craigs.
Treasury said it would now look to contract 'high quality broking firms and other distributors with channels to retail investors' to take a lead role in achieving widespread New Zealand ownership of Mighty River Power.
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