NZ's Channel Infrastructure hits over 3-yr high on asset divestment talks

Channel Infrastructure NZ

10/07/2023 24:43

** Shares of New Zealand's Channel Infrastructure  CHI.NZ 
rise as much as 7.3% to NZ$1.62, their highest since January
2020
    ** The fuel infrastructure provider says it has entered an
agreement with U.S.-based Seadra Energy Incorporated 
    ** Under deal, the U.S. firm will have six months to
consider the purchase of certain assets from co's hydro-cracking
complex at Mardsen Port Site
    ** Says the purchase price agreed between the parties is
$33.875 mln
    ** Stock has risen 7% this year as of last close 

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))