Daily Archives: June 8, 2011

Bankers prepare for New Zealand’s privatisation beauty parades | The Australian

Photo of the "Beehive", Parliament B...

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THE Rugby World Cup is months away, but the steady flow of Australian investment bankers to Wellington shows you the coming partial privatisation of some New Zealand government assets is the biggest show in town, as far as equity capital markets are concerned. The beauty parades start next week amid a plethora of people-intensive jobs from overall scoping studies and individual asset-scoping studies to joint lead manager roles which, of course, are where the money is made. In last month’s budget the circa $7 billion in asset sales flagged included three energy companies, starting with Mighty River Power, and coal company Solid Energy and a sell down of the 75 per cent government stake in Air New Zealand. New Zealanders are not big domestic shareholders, in part because the country doesn’t have a superannuation policy like Australia’s.

via Bankers prepare for New Zealand’s privatisation beauty parades | The Australian.

Strange Random New Zealand Quote:

“The first european to find NZ was a Dutch sea-captain who was looking for something else … It takes its name from a province of Holland to which it does not bear the remotest likeness, and is usually regarded as the antipodes of England, but is not. Taken possession of by an English navigator, whose action was afterwards reversed by his country’s rulers, it was only annexed by the English Government which did not want it, to keep it from the French, who did.” – William Pember Reeves 1898

 

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