Letter of Intent Signed for the Sale of Shell NZ Downstream Assets
21 December 2009
Infratil, Shell New Zealand and the Guardians of New Zealand Superannuation announced that a letter of intent has today been signed relating to the potential acquisition of Shell New Zealand’s downstream assets by Infratil and the Guardians.
The letter was signed by Shell’s country chairman for New Zealand Rob Jager, Infratil’s Chairman David Newman and Guardians’ Chair David May.
The Letter of Intent is not an acquisition contract. However it does represent Infratil and the Guardians’ clear intention to proceed to acquire Shell’s New Zealand downstream assets if relevant pre-requisites are met including the securing of third-party approvals.
A further update will be provided in due course.
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