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16-10-2013, 02:36 PM
#1141
Originally Posted by Mista_Trix
DISC: Wellingtonian, we're not dead yet!!
Just went fishing and caught myself a Mista_Trix hook line and sinker
Agree with your point but the mix has changed from the big head offices to more technology focuses. I would add Peter Jacksons studios into the mix as well as a big employer.
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16-10-2013, 03:50 PM
#1142
Member
I agree the extension is not needed, soon (I hope) it will be easy to fly to Australia, just like a domestic flight and then you will have almost four main hubs (AKL,SYD,MLB,BNE). No needed and I'm glad that IFT is saying "we're not going to take the risk".
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18-10-2013, 06:50 PM
#1143
Oh, ok. So the buyback has been deferred. Does this suggest we have found something better to do with the cash?
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19-10-2013, 09:39 AM
#1144
Member
That's what I am thinking. Said they will release details on the 2nd
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19-10-2013, 09:47 AM
#1145
Dreaming : Perhaps they poked the cash into Xero instead?
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22-10-2013, 05:33 AM
#1146
To be value accretive over $2.60 ?
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22-10-2013, 08:01 AM
#1147
Originally Posted by psychic
Oh, ok. So the buyback has been deferred. Does this suggest we have found something better to do with the cash?
they are looking into a number of things apparently - no idea what.
Irrigation scheme, hawaki cable, MET? As long as it isn't another Euro airport!
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22-10-2013, 09:02 PM
#1148
Member
From the perspective of IFT, that goes without saying. $2.60 is a minimum pps in its eyes so by delaying a buy back for "potential transactions", IFT would be implying it has a better use for capital than could be achieved buying itself at $2.60. At least for the amount previously earmarked for the buybacks which was a small part of the ZEL proceeds.
I've heard rumours about IFT looking at a chunk of the recent MET and/or SUM selldowns. They certainly have the cash for it but it doesn't feel right to me. I'm not sure about MET but Quadrant's stake in SUM was circa 30% which doesn't seem large enough for IFT to get excited given the usual model of IFT/HRL staff moving in to the corner offices. How much did MET's parent sell? Happy to be proven wrong as retirement is a key sector to be in.
I've got a feeling this will be related to the greenfield references signalled several times previously by IFT. Maybe a new Oz wind project (I believe Snowton I and II have*been "paid for" by IFT/TPW). IFT is interested in at least two NZ irrigation projects but having not seen any numbers I fail to see how these projects could be worth hundreds of millions both from a cost and shareholder perspective. So there may still be capital remaining from 1/2 irrigation projects...my money is on a big PPP energy project in Oz
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25-10-2013, 08:56 AM
#1149
Infratil Commits to Buy a 19.9% Interest in Metlifecare Ltd
8:35am, 25 Oct 2013 | ASSET
Infratil advises that it has entered into a conditional sub-underwriting agreement with Goldman Sachs New Zealand Limited to acquire a 19.9% interest in Metlifecare Limited
for consideration of NZ$147.9m (NZ$3.53 per share)
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25-10-2013, 09:29 AM
#1150
Originally Posted by psychic
Infratil Commits to Buy a 19.9% Interest in Metlifecare Ltd
8:35am, 25 Oct 2013 | ASSET
Infratil advises that it has entered into a conditional sub-underwriting agreement with Goldman Sachs New Zealand Limited to acquire a 19.9% interest in Metlifecare Limited
for consideration of NZ$147.9m (NZ$3.53 per share)
Great - I expect a lift today and current depth seems starting to back this view.
Last edited by Dentie; 25-10-2013 at 09:29 AM.
Reason: spelling
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