Announced
Financials
Sources
Tags
Minority
metering equipment
Private
Private Equity
Acquisition
Pending
Domestic
Friendly
Australia
New Zealand
Single Bidder
Electronic Equipment: Gauges and Meters
Synopsis
QIC, a private equity firm, agreed to acquire a 50% stake in Vector Metering, a smart metering business of Vector, an electricity and gas distribution company, for $800m. “We’re very satisfied with the outcome of our strategic review. QIC is a strong long-term partner for Vector Metering, given QIC’s scale, experience and breadth of relationships in the New Zealand and Australian energy markets, its access to capital and its shared commitment to growth and customer outcomes," Simon Mackenzie, Vector Group CEO.
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