27 Jan 2012

Treasury chooses firms to manage Mighty River Power share sale

7:37 pm on 27 January 2012

The Treasury has announced the companies that will manage the partial sale of shares in the state-owned enterprise Mighty River Power.

Three investment banks - First New Zealand Capital/Credit Suisse Australia, Macquarie Capital New Zealand and Goldman Sachs New Zealand - will be joint lead managers.

They'll be responsible for project management, consultancy and advisory services for the initial public offer. The law firm Bell Gully has been appointed legal adviser.

The Treasury says it will also contract broking and other firms with connections to investors in order to achieve widespread New Zealand ownership of shares in Mighty River Power.