QIC to acquire a 50% stake in Vector Metering for $800m.

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.