Alliant Energy closes $300 million sale of New Zealand investments to Infratil Ltd.

Madison, WI, Jan. 2, 2007 — Alliant Energy Corp. announced that the company has completed the sale of its ownership interest in Alliant Energy New Zealand Ltd. (AENZ), to Infratil Ltd. for a purchase price of approximately $300 million.

After payment of closing costs, the repayment of an inter-company loan with AENZ, and post-closing adjustments Alliant Energy expects to realize net proceeds from the sale of approximately $185 million. Alliant Energy plans to use these expected proceeds for general corporate purposes.

AENZ holds interests in two publicly traded New Zealand companies. AENZ owns a 23.77 percent interest in TrustPower Ltd. and a 5.07 percent interest in Infratil Ltd., an investor in infrastructure and utility assets.

Alliant Energy worked with First New Zealand Capital, in affiliation with Credit Suisse, to manage the sale and was advised in legal matters by Buddle Findlay.

For more news and exclusive features from Utility Automation & Engineering T&D and Electric Light & Power online, please click here.

Previous articleWhy Europe’s Smartest Favor Smart Meters
Next articleJ.D. Power’s Founder’s Award: How MidAmerican earned it and what it means to a utility

No posts to display