Open main menu

Infratil Limited is a New Zealand-based infrastructure investment company. It owns airports, electricity generators and retailers, Renewable energy and a public transport business, with operations in New Zealand and Australia and the US. 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.

Infratil Limited
Public
Traded asNZX: IFT
ASXIFT
IndustryElectricity generation
Electricity retailing
Renewable energy
Airports
Public transport
Data center
Founded1994; 25 years ago
HeadquartersWellington, New Zealand
Key people
Marko Bogoievski (CEO)
Mark Tume, Chairman
Phillippa Harford, CFO
Tim Brown, Investor Relations
Increase $1,233.9 Million (2018)
ParentH. R. L. Morrison & Co
Websiteinfratil.com

HistoryEdit

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.[1] From its founding in 1994 to 31 March 2018 Infratil delivered average annual returns of 16.6%.[2]

InvestmentsEdit

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

EnergyEdit

  • Trustpower - 50.59%[3]
  • Tilt Renewables
  • Longroad Energy
  • 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 1 April 2010.[4] 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.[5] Infratil sold the remaining 20% stake in Z Energy in September 2015.
  • 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.[6]

Social InfrastructureEdit

  • RetireAustralia In December 2014 Infratil and its partner, the New Zealand Superannuation Fund, each acquired 50% of RetireAustralia, a retirement operator with headquarters in Brisbane, Australia and over 3600 independent living units and apartments across 28 villages in NSW, SA and QLD.
  • Infratil Infrastructure Property

FormerEdit

  • Metlifecare. On 25 October 2013 Infratil advised the NZX it was to acquire a 19.9% in Metlifecare New Zealand's second largest village and aged care operator. The agreement was completed on 28 November 2013. On 7 April 2017 Infratil sold its 19.91% holding via a block trade on the NZX.

TransportEdit

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

CurrentEdit

FormerEdit

Data infrastructureEdit

  • Canberra Data Centres Infratil has a 48% shareholding alongside Commonwealth Superannuation Corporation (48%) and CDC's executive (4%) Data centres are facilities that house computer systems, networking, telecommunications and storage infrastructure, they are built with high-redundancy power supplies, environmental controls (e.g. cooling, fire suppression) and security systems.

ReferencesEdit

  1. ^ "Deloitte/Management Magazine Company of the Year" (PDF). New Zealand Management. December 2007. Archived from the original (PDF) on 2008-10-14. Retrieved 2009-06-29.
  2. ^ "Infratil Annual Report" (PDF). www.infratil.com. 2018-05-26. Retrieved 2018-05-26.
  3. ^ "Shareholdings". app.companiesoffice.govt.nz.
  4. ^ "NZX announcement".
  5. ^ Rutherford, Hamish (11 May 2011). "Shell petrol stations to be renamed 'Z'". The Dominion Post. Retrieved 4 October 2011.
  6. ^ "NZX announcement".
  7. ^ "Shareholdings". app.companiesoffice.govt.nz.
  8. ^ "Shareholdings". Business.govt.nz. Retrieved 2019-05-09.
  9. ^ "Infratil acquires Stagecoach for $250m". National Business Review. 2005-11-21. Retrieved 2009-06-29.
  10. ^ "Infratil sells NZ Bus to private equity buyers". Stuff.co.nz. 24 December 2018. Retrieved 24 December 2018.
  11. ^ "Airport in £1 public ownership deal". 24 November 2013 – via www.bbc.co.uk.
  12. ^ [1][dead link]

External linksEdit