Goldman Sachs JBWere conducted an auction of the assets on behalf of Vector, putting the investment bank on the other side of the table from a Li Ka-Shing company and one of its key Hong Kong relationships. Media has speculated that other parties bidding for the asset included China's power grid operator, State Grid Corp Westpac Banking Corp's Hasting Funds Management and Macquarie.
The Wellington electricity network serves customers in Lower Hutt, Upper Hutt, Porirua and Wellington City. It was acquired by Vector in 2002 from Aquila, an American company. Prior...
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