A round-up from Radio New Zealand's business reporters - Meridian's green light for Arc Innovations sale; Genesis plans major debt security sale; and Tag Oil drills deep.
Sale approval for Meridian
Meridian Energy now has the green light to sell its metering and asset service business.
The company selected the lines company, Vector, as the preferred buyer of Arc Innovations in August.
The Commerce Commission has now approved the sale.
Meridian said the sale should be completed early next month.
Genesis to sell debt securities
Genesis Energy plans to sell US$150 million of debt securities in the US private placement market.
The power retailer and generator said the proceeds would be used to repay shorter-term bank borrowings.
Genesis said the issue would increase the average maturity of its funding facilities by more than a year to 8.3 years.
Drilling progress for Tag Oil
Tag Oil's well in the Taranaki Basin has successfully been drilled to a total depth of 1939 metres, the company says.
It said production testing on the well was expected to begin this week.
Tag Oil said more than 9 metres of oil and gas had been intersected from the well to date.
