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Thread: IFT - Infratil

  1. #1141
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    Quote Originally Posted by Mista_Trix View Post
    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.
    Free delivery worldwide with Book Depository http://www.bookdepository.co.uk

  2. #1142
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    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".

  3. #1143
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    Oh, ok. So the buyback has been deferred. Does this suggest we have found something better to do with the cash?

  4. #1144
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    That's what I am thinking. Said they will release details on the 2nd

  5. #1145
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    Dreaming : Perhaps they poked the cash into Xero instead?

  6. #1146
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    To be value accretive over $2.60 ?

  7. #1147
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    Quote Originally Posted by psychic View Post
    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!

  8. #1148
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    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

  9. #1149
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    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)

  10. #1150
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    Quote Originally Posted by psychic View Post
    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 08:29 AM. Reason: spelling

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