IFT - Infratil

[POSSUM THE CAT]

NEV The good Management Team of IFT that bought Stagecoach and lost how many millions on AIA are going to do better than the present Shell management. Are you sugesting card payment at the pump again. Most of these have been torn out again. They were unreliable or frustrated the customers so much they went elsewhere. Have you been to a PAK N SAVE service station lately. What a pain in the rear end. And do not think they buying a lot of property. most of it is leased & possibly the leasee is responsable for decontaminating it as well. My opinion is SHELL will be laughing all the way to the bank.

[PLYNCH]

I wonder if IFT will carry on using the Shell name.
If IFT like NZR so much should have bought Rubicon's NZR shares 7-8 years ago for $1.06 ($$10.60).What a bargain.
IFT has lost its way and is turning into the next BIL/GPG.

[Toddy]

IFT has lost its way and is turning into the next BIL/GPG.

Plynch

No way. If you have read the financial statements then you will know that the IFT balance sheet is very healthy and is not weighed down by over exposure in any one sector. (unless you don't like over exposure to Trustpower).

NZ Bus still provides cashflow (maybe look at dumping the Auckland side of the business) and the Aussie portfolio is in a great sector with a good outlook.

The idea was right behind the offshore Airport purchases but the financial crises came along. Its still a good sector to be in for the long term but like all companys around the world it makes sense to do business closer to home.

I think that IFT is alot futher through their restructure than the market is giving them credit for.


GPG is stuck with Coats as was Brierley with Thistle, both of which stuffed their balance sheets.

[Toddy]

The bus despute has finally been resolved and Lloyde is helping out around the office.

Bus drivers finally agree to new pay deal
The deal, which includes an 11.5 per cent pay increase over the next three years, was put to union members today at ratification meetings and they voted in favour.

[sharer]

The bus despute has finally been resolved and Lloyde is helping out around the office.

Bus drivers finally agree to new pay deal
The deal, which includes an 11.5 per cent pay increase over the next three years, was put to union members today at ratification meetings and they voted in favour.

Sounds similar to what was offered in the first place?
Good to know LM is back in the office, even if it may be just a chat & cuppa.

[Toddy]

ENE is in a trading halt pending announcement.

Could this be an on market takeover offer on the way.

[Toddy]

Seems like a good deal in todays market, and cash in the bank (110m kiwi) for IFT. Lets see how it goes.


ASSET: IFT: Infratil supports Greenspark offer for Energy Developments

Media Release Monday, November 30,
2009

Infratil supports Greenspark offer for Energy Developments shares

Greenspark Power Holdings Ltd has today announced an intention to make a full
offer for all the shares in Energy Developments Limited (ENE) at A$2.75 per
share. Greenspark is jointly owned by entities advised by the PEP Group.

Infratil, ENE's largest shareholder, is fully supportive of this offer and
has concurrently entered into a Pre-Bid Agreement with Greenspark in respect
of 31,308,860 of its shares in ENE. The commitment given under the Pre-Bid
Agreement is in respect of 19.99% of the shares in ENE.

[Nevl]

ENE is in a trading halt pending announcement.

Could this be an on market takeover offer on the way.

Offer $2.75 Aussie per share. Anyone remember what IFT paid in the first place. But looks like they are getting close to $100mill Kiwi for their stake. Now they have a very serious war chest.

[Toddy]

ENE announcement says IFT + insto's intend to accept the offer representing 42.4% of shareholding. The finish line is 50.1%.

Therefore, it looking like a done deal already.

[macduffy]

Offer $2.75 Aussie per share. Anyone remember what IFT paid in the first place. But looks like they are getting close to $100mill Kiwi for their stake. Now they have a very serious war chest.

According to my records IFT paid NZD170m for the original stake and have written it down by NZD113.7m since. So it's in the books at NZD56.3m.

$100m will give them a healthy profit for this year's numbers but of course still represents a hefty loss overall.