AMP Capital pays $409m for Powerco NZ stake
AMP Capital has agreed to buy 42% of Powerco NZ Holdings, New Zealand’s second largest electricity and gas distribution company, from Brookfield Infrastructure Partners for NZ$525 million ($409 million). It is investing on behalf of several clients and funds, including the AMP Capital Infrastructure Equity Fund (IEF) and the AMP Capital Core Infrastructure Fund (CIF).
The deal, which requires approval from the New Zealand Overseas Investment Office and, is expected to close by the end of this year. "The strength of the Powerco business and the New Zealand economy...
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