English says-No more asset sales after next election

English says-No more asset sales after next electionThe New Zealand government became a majority shareholder in Air New Zealand in 2002, when it stepped in to save the carrier from collapse.

New Zealand's government is to sell a 20% of its stake in the  national carrier Air New Zealand, leaving it with a 53% holding.

On Monday subsequently following the government's announcement trading in the airline's shares was halted. Based on the last trading price of NZ$1.65 per share, the 20% stake is valued at 363 million New Zealand dollars ($302m; £187m).

This sale will assist the government's target of raising NZ$5bn to spruce public debt and spend on infrastructure.

A re-elected National Party-led government is not planning any more asset sales after the 2014 election mentioned Finance Minister Bill English

English articulated that the government was doing no more than carrying out a policy it outlined to voters before the 2011 election.

20% of the shares in Air New Zealand for sale by private placement in the next two days and only Genesis Energy now left for partial privatisation next year.

It has sold 49% stakes in Mighty River Power and Meridian Energy this year. Neither of the companies has attracted the listing price or the number of first-time retail shareholders hoped for, and only after long-lasting court battles over Maori claims to freshwater bodies used to generate hydro-electricity.

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