Next steps in Government share offers

The Government has announced its next steps to prepare for the partial sale of Mighty River Power to New Zealanders.

It will not implement the Waitangi Tribunal’s “shares plus” concept, or engage in further negotiations in relation to that concept, before the sale of shares in the four state energy companies. This decision comes after the conclusion of hui with Māori with direct interests in the water and geothermal resources used by Mighty River Power, Meridian, and Genesis.

The sale of up to 49 per cent of Mighty River Power in the first half of next year will be followed by sales of up to 49 per cent of Genesis Energy and Meridian Energy in the subsequent 12 months, all subject to market conditions.

The Government has also announced that iwi groups yet to complete their Treaty settlements will be able to receive a percentage of their forecast settlement package “on account” in the form of shares in the state companies.

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