The government will be racing the clock to try and sell up to 49 percent of state-owned electricity company MightyRiverPower now that the Supreme Court has dismissed attempts by Maori claimants to settle Treaty of Waitangi claims to freshwater rights first. The unanimous decision of the five judge full bench of the Supreme Court clears the last legal hurdle to …

Fonterra Cooperative Group farmers will get some breathing space in being fully ‘shared up’ after the world’s biggest dairy exporter announced a bonus issue of stock and offered more flexibility for those growing milk production. Fonterra shares, which trade on a closed market managed by the NZX, last traded at $7.17, or about 59 percent higher than the $4.52 fair …

MightyRiverPower, the first state-owned enterprise slated for a partial sale this quarter, has raised $100 million from institutional investors in two wholesale bond issues to repay debt. The electricity generator and retailer sold $75 million of six-year bonds paying annual interest of 5.029 percent and $25 million of 10-year bonds paying 5.793 percent annually, it said in a statement. The …