Infratil

Infratil Limited

File:Infratil.png
Type	Public
Traded as	NZX: IFT ASX: IFZ
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
Operating income	$909.5 Million (2015)
Owner	New Zealand Central Securities Depository Limited - 50.27%
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. From its founding in 1994 to March 31, 2011 Infratil delivered average annual returns of 18%.

Investments

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

Energy

• Trustpower - 50.59%
• 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. 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. 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.

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

• Wellington International Airport - 66% ownership through wholly owned subsidiary NZ Airports who purchased the stake in 1998, with Wellington City Council retaining the remaining 34%
• NZ Bus - 100% ownership, purchased in 2005 from Stagecoach.
• Snapper Services Limited - 100% ownership through Infratil subsidiary Swift Transportation.

Former

• Glasgow Prestwick Airport (sold to the Scottish government in November 2013)
• Manston Airport (sold to Ann Gloag in November 2013)
• Lübeck Airport (Infratil exercised its put option in respect of its 90% shareholding and ownership has transferred to the City of Lübeck on 30 October 2009)

Property

• Infratil Infrastructure Property

External links

• Official website