Meridian Agrees to Sell Australian Power Business for A$729 Million
November 21 2021 - 3:26PM
Dow Jones News
WELLINGTON, New Zealand--New Zealand hydro-power company
Meridian Energy Ltd. said it has agreed to sell its retail
electricity business in Australia to a consortium of Royal Dutch
Shell PLC and infrastructure investors.
The sale of the Powershop business to Shell and Infrastructure
Capital Group for 729 million Australian dollars ($527.7 million)
is expected to be completed in the first quarter of 2022, Meridian
said on Monday.
Meridian said it will consider returning cash to shareholders
and opportunities for new business investments.
Write to Stephen Wright at stephen.wright@wsj.com
(END) Dow Jones Newswires
November 21, 2021 15:11 ET (20:11 GMT)
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