Infratil

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Infratil Limited
Public
Traded as NZX: IFT
ASXIFZ
Industry Electricity generation
Electricity retailing
Natural gas retailing
Airports
Public transport
Founded 1994 (1994)
Headquarters Wellington, New Zealand
Key people
Mark Tume, Chairman
Marko Bogoievski, CEO
Phillippa Harford, CFO
Bruce Harker, Energy
Tim Brown, Investor Relations
Increase $909.5 Million (2015)
Owner New Zealand Central Securities Depository Limited - 50.27%[1]
Parent H. R. L. Morrison & Co
Website www.infratil.com

Infratil Limited is a New Zealand-based infrastructure investment company. It owns airports, electricity generators and retailers, and a public transport business, with operations in New Zealand and Australia. Infratil was founded by the late Lloyd Morrison, a Wellington-based merchant banker. Morrison's company, H. R. L. Morrison & Co, is responsible for Infratil's management and administration.

History

Infratil was one of the world's first listed infrastructure funds when it was established and listed on the New Zealand Exchange in 1994. Its first investment was a minority stake in Trustpower. It expanded into airport ownership in 1998 when it bought a 66% shareholding in Wellington Airport. Infratil was named Deloitte/Management Magazine Company of the Year in 2007.[2] From its founding in 1994 to March 31, 2011 Infratil delivered average annual returns of 18%.[3]

Investments

The following companies are either wholly or partially owned by Infratil.

Energy

  • Trustpower - 50.59% [4]
  • Z Energy. On 29 March 2010 a consortium owned 50% by Infratil and 50% by the Guardians of New Zealand Superannuation executed a sale and purchase agreement for the acquisition of Shell New Zealand’s distribution and retail businesses and 17.1% interest in the New Zealand Refining Company. The agreement was completed on April 1, 2010.[5] Initially named Greenstone Energy, it began to re-brand the service stations as Z in May 2011. Chief executive Mike Bennetts said that the cost of using the Shell brand, believed to be about NZ$10 million a year, was a factor in the decision.[6] Infratil currently own 20% of Z Energy.
  • Energy Developments Limited. A holding in Energy Developments Limited was sold into the takeover offer by Greenspark Power Holding Ltd for A$139.9 million in January 2010.[7]

Social Infrastructure

  • Metlifecare. On 25 October 2013 Infratil advised the NZX that it was to acquire a 19.9% in Metlifecare New Zealand's second largest village and aged care operator. The agreement was completed on November 28, 2013.

Transport

A new Link bus near Auckland Hospital
Wellington Airport from Mt Victoria

Current

Former

Property

  • Infratil Infrastructure Property

References

  1. https://www.business.govt.nz/companies/app/ui/pages/companies/597366/shareholdings
  2. "Deloitte/Management Magazine Company of the Year" (PDF). New Zealand Management. December 2007. Retrieved 2009-06-29.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  3. "Infratil Annual Report" (PDF). www.infratil.com. 2011-06-26. Retrieved 2011-06-26.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  4. https://www.business.govt.nz/companies/app/ui/pages/companies/604040/shareholdings
  5. NZX announcement
  6. Rutherford, Hamish (11 May 2011). "Shell petrol stations to be renamed 'Z'". The Dominion Post. Retrieved 4 October 2011.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  7. NZX announcement
  8. https://www.business.govt.nz/companies/app/ui/pages/companies/922040/shareholdings
  9. https://www.business.govt.nz/companies/app/ui/pages/companies/396240/shareholdings
  10. "Infratil acquires Stagecoach for $250m". National Business Review. 2005-11-21. Retrieved 2009-06-29.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  11. http://www.bbc.co.uk/news/uk-scotland-glasgow-west-25055531
  12. http://www.bbc.co.uk/news/uk-england-kent--25154220
  13. NZX announcement

External links