Brief: Vector Selects Qic As Preferred Partner For Vector Metering Joint Venture

Vector

21/12/2022 02:03

Dec 21 (Reuters) - Vector Ltd  VCT.NZ :
    * SELECTS QIC AS PREFERRED PARTNER FOR VECTOR METERING JOINT
VENTURE, FOLLOWING CONCLUSION OF STRATEGIC REVIEW
    * AGREED KEY TRANSACTION TERMS IMPLY AN ENTERPRISE VALUE FOR
VECTOR METERING OF ABOUT NZ$2.51B
    * CONCLUSION OF DEAL IS EXPECTED TO RESULT IN GROSS
TRANSACTION
PROCEEDS OF AROUND NZ$1.74 BILLION TO VECTOR
    * CONDITIONAL DEAL TO FINALISE ARRANGEMENTS IN Q1 OF 2023
FOR SALE
OF A 50% INTEREST IN CO'S NZ & AUSTRALIAN METERING BUSINESS
    * QIC AND VECTOR  ALSO IN DISCUSSIONS TO ENTER INTO
STRATEGIC
ALLIANCE WITH YURIKA

Further company coverage:  VCT.NZ 
 ((Reuters.Briefs@thomsonreuters.com;))