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VCT - Vector News Story

NZD3.93 -0.0  -0.5%

Last Trade - 6:00am

Sector
Utilities
Size
Mid Cap
Market Cap £2.00bn
Enterprise Value £3.45bn
Revenue £672.6m
Position in Universe 123rd / 1830

BRIEF-Vector Ltd To Sell Kapuni Gas Treatment Plant To Todd Petroleum Mining

Mon 2nd December, 2019 9:49pm
Dec 3 (Reuters) - Vector Ltd  VCT.NZ :
    * AGREED TO SELL VECTOR'S KAPUNI GAS TREATMENT PLANT TO TODD
PETROLEUM MINING COMPANY LIMITED
    * VECTOR STAFF AT KAPUNI GAS TREATMENT PLANT WILL TRANSITION
TO
TODD EMPLOYMENT
    * CO & TODD TO TERMINATE EXISTING KAPUNI GAS CONTRACT &
ENTER INTO
NEW LONG TERM AGREEMENTS FOR SUPPLY OF NATURAL GAS & LPG FROM
TODD TO CO
    * WILL TRANSFER KAPUNI GAS TREATMENT PLANT & ASSOCIATED
ASSETS IT
OWNS TO TODD, INCLUDING ITS 50% SHARE IN KAPUNI ENERGY JOINT
VENTURE
    * VECTOR & TODD ENTER INTO NEW LONG TERM AGREEMENTS FOR
SUPPLY OF
NATURAL GAS & LPG FROM TODD TO VECTOR; TO COMMENCE FROM 2021
    * TODD WILL PAY CONSIDERATION FOR ACQUISITION OF KAPUNI GAS
TREATMENT PLANT AND ASSOCIATED ASSETS OVER LIFE OF KAPUNI FIELD
    * IMPACT TO FINANCIALS FROM DEAL IS EXPECTED TO NOT BE
MATERIAL IN
SHORT TERM
    * AS PART OF TRANSACTION, PARTIES HAVE AGREED TO SETTLE ALL
CURRENT LITIGATION RELATED TO KAPUNI GAS AS AT COMPLETION

Source text for Eikon:  ID:nNZWb26qvQ 
Further company coverage:  VCT.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))
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