Dexus, ART to tag team at Kiwi energy distributor Powerco’s selldown
It’s no secret ASX-listed Dexus is keen to buy the Queensland government’s 33 per cent stake in New Zealand energy distributor Powerco. Now, it is looking to team up with another existing shareholder for its tilt, in what’s expected to up the ante for external bidders eyeing the $250 million-a-year asset.
Street Talk understands Dexus has held multiple meetings with the country’s second-largest superannuation fund, Australian Retirement Trust, to discuss acquiring the Powerco stake, which was put up for sale via Barrenjoey Capital Partners.
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out more