{"id":122688,"date":"2021-10-10T21:31:41","date_gmt":"2021-10-10T21:31:41","guid":{"rendered":"https:\/\/fin2me.com\/?p=122688"},"modified":"2021-10-10T21:31:41","modified_gmt":"2021-10-10T21:31:41","slug":"new-zealands-z-energy-recommends-shareholder-vote-for-ampol-takeover-bid","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/new-zealands-z-energy-recommends-shareholder-vote-for-ampol-takeover-bid\/","title":{"rendered":"New Zealand's Z Energy recommends shareholder vote for Ampol takeover bid"},"content":{"rendered":"

(Reuters) – New Zealand fuel supplier Z Energy said on Monday that it recommended its shareholders to vote in favor of Ampol Ltd\u2019s NZ$1.97 billion takeover bid.<\/p>\n

\u201cBoard has been focussed on the best interest of Z shareholders and has engaged constructively with Ampol over several months to secure additional value beyond the initial approach in June,\u201d Z Energy chairman Abby Foote said.<\/p>\n

Z Energy added it was satisfied that Ampol would continue to invest in New Zealand\u2019s energy transition towards a low carbon future and its scale will deliver advantages for the fuel industry in the country.<\/p>\n

\u201cZ will be able to tap into Ampol\u2019s significant supply chain, including trading and shipping operations, that will deliver scale benefits to Z\u201d, Z Energy chief executive officer Mike Bennetts added.<\/p>\n

Z Energy, in August, had said it would open its books to Ampol after the NZ$3.78 per share buyout offer, which followed three previous approaches that were not publicly disclosed.<\/p>\n

Z Energy was formed when Infratil Ltd and a local pension fund bought Royal Dutch Shell\u2019s downstream business in the country in 2010. In 2016, the company expanded further by buying Chevron\u2019s local assets.<\/p>\n

($1 = 1.4453 New Zealand dollars)<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – New Zealand fuel supplier Z Energy said on Monday that it recommended its shareholders to vote in favor of Ampol Ltd\u2019s NZ$1.97 billion […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nNew Zealand's Z Energy recommends shareholder vote for Ampol takeover bid - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/new-zealands-z-energy-recommends-shareholder-vote-for-ampol-takeover-bid\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Zealand's Z Energy recommends shareholder vote for Ampol takeover bid - Fin2me\" \/>\n<meta property=\"og:description\" content=\"(Reuters) – New Zealand fuel supplier Z Energy said on Monday that it recommended its shareholders to vote in favor of Ampol Ltd\u2019s NZ$1.97 billion [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/new-zealands-z-energy-recommends-shareholder-vote-for-ampol-takeover-bid\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-10T21:31:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2018\/07\/EjwKwSWciRLusWfuPtkX.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"563\" \/>\n\t<meta property=\"og:image:height\" content=\"563\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/new-zealands-z-energy-recommends-shareholder-vote-for-ampol-takeover-bid\/\",\"url\":\"https:\/\/fin2me.com\/markets\/new-zealands-z-energy-recommends-shareholder-vote-for-ampol-takeover-bid\/\",\"name\":\"New Zealand's Z Energy recommends shareholder vote for Ampol takeover bid - 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