Morningstar - Infratil Ltd. (IFT) Infratil Sells Stake in Metlifecare for Tidy Profit

Report

Morningstar

Adrian Atkins

EUR 98.48 For Business Accounts Only

Infratil Sells Stake in Metlifecare for Tidy Profit

Infratil sold its 20% stake in Metlifecare for NZD 238 million, booking a tidy profit of around NZD 90 million (NZD 16 cents per share) and collecting dividends along the way.Â All up, the firm made 15% per year since buying the stake in October 2013, an excellent return. While positive on the outlook for the retirement sector, we're happy to see the firm free up more capital to invest in its core businesses. We adjust our forecasts but maintain our NZD 3.30 per share fair value estimate. At the...

07/04/2017 14 EN

Underlying

Infratil Ltd.

Infratil and its subsidiaries own and operate infrastructure and utility businesses and investments in New Zealand and Australia. Co. and its subsidiaries operate in six business segments: TrustPower, Wellington Airport, NZ Bus, Infratil Energy Australia, Infratil Airports Europe and Other. Trust Power is Co.'s renewable generation investment; Wellington International Airport is Co.'s Wellington Airport Investment; NZ Bus is Co.'s transportation investment; and Infratil Energy Australia (including Perth Energy) is Co.'s non renewable generation investment. The principal investments in the Other segment are Co.'s interests in Z Energy, Metlifecare, RetireAustralia and ASIP.

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NZIFTE0003S3 NZX New Zealand

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Adrian Atkins

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Infratil Sells Stake in Metlifecare for Tidy Profit

Infratil Limited: 1 director

With a more favourable environment, INFRATIL improves to Slightly Positive

Morningstar | Ceased Coverage on Infratil

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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