By Rebecca Howard
WELLINGTON--Transport energy company Z Energy is preparing for a
potential listing on the New Zealand stock exchange, Infratil Ltd.
(IFT.NZ) and the New Zealand Superannuation fund said Friday.
Z Energy was purchased by Infratil and the Fund from Royal Dutch
Shell PLC (RDSA.LN, RDSA, RDSB.LN, RDSB) in April 2010, with each
party taking a 50% share.
"While no firm decisions have been made, and any listing will
depend on market conditions at the time, we have asked Z Energy to
work towards a possible listing of 40%-60% of the company in the
third quarter of 2013," the parties said in a joint statement.
While no final decisions have been made both said they would
likely retain stakes in the company of between 20% and 30%
each.
Write to Rebecca Howard at rebecca.howard@wsj.com
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