Thursday, 10 January 2013 15:16

Pain in the asset sale

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SO SOLID Energy has managed to flog-off its biodiesel business. Your old mate wonders what price the state-owned enterprise actually got for it.

Predictably, both vendor and buyer say that’s confidential. But it’s a fair bet the figure will come out in due course. When it does we’ll probably find it went for a fraction of the $17m invested in the Rolleston site, not to mention the millions of dollars some suspect the SOE lost trying to crop ridiculous regions. It doesn’t bode well for other asset sales, but at least this sale was to a consortium of New Zealanders.

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