New Zealand

Details

  • Type: Press release
  • Date: 19/05/2011

Contact

Sneha Paul Gray

KPMG Communications 

+64 9 363 3590 or 021 243 8997

 

 

Mixed ownership model for SOEs a necessary and bold step 

    Media release, 19 May 2011 

 

Statement made by Troy Newton, Partner, KPMG

 

We welcome the Government’s move to implement a mixed ownership model for selected State owned Enterprises and Air New Zealand, but careful planning will be required. In particular, Treasury officials will need to plot a path through the various risks and barriers to success such as water allocation and Treaty settlements.

 

The potential scale of the IPOs over three to five years means that officials will also need to plan and stage the sell down process carefully to ensure other participants’ requirements of local capital markets remain achievable.

 

Managed appropriately, the mixed ownership model should be good for New Zealand and our capital markets. The devil is in the detail. Until that detail is available, next year by all accounts, businesses must adopt a wait and see approach before making a judgement on the merits.

 

 

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