27 May 2013

Meridian shares may be sold in lots

5:22 pm on 27 May 2013

Prime Minister John Key has signalled the Government could sell a 49% stake in Meridian Energy in two lots to ensure majority New Zealand ownership.

Meridian Energy is due to be put up for partial sale after the Government sold a 49% stake in Mighty River Power earlier in May.

Mr Key said on Monday that no decision has been made on how to run the sale, but Meridian is a much larger company than Mighty River Power, with the Government expecting to get about $3 billion for the sale of its shares.

He said demand for the shares would determine whether the Government floats 49% of the company in one chunk or two.