21 Jan 2013

'Early' SOE partial sale if court rules in favour

3:37 pm on 21 January 2013

Prime Minister John Key has confirmed the Government wants to proceed as quickly as possible with the partial sale of Mighty River Power if the Supreme Court dismisses an appeal by the Maori Council.

Mr Key says the partial privatisation programme remains on the Government's agenda.

He says obviously the matter has to go before the Supreme Court and he would not comment on that process.

But the Prime Minister says if the court rules in the Government's favour, it would proceed with the Mighty River Power sale as early as possible.

"In the event that we get a successful outcome from the courts then we'll be looking to progress the Mighty River Power sale in the first half, fundamentally as early as we practically can in 2013."

The Supreme Court will hear the Maori Council's appeal against an earlier High Court decision at the end of January.

The Government had planned to begin selling shares in Mighty River Power in 2012. It intends to subsequently sell up to 49% of Genesis Energy, Meridian Energy and Solid Energy.