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Reuters
Reuters
Business

New Zealand's Infratil says NZ$2.30 per share offer for Tilt is 'fair'

(Reuters) - New Zealand infrastructure investor Infratil Ltd <IFT.NZ> on Thursday affirmed that its NZ$2.30 per share buyout offer for wind farms operator Tilt Renewables Ltd <TLT.NZ> was "reasonable and fair."

Infratil and power supplier Mercury NZ <MCY.NZ> own 71 percent of Tilt. Through a joint venture, they made that offer in cash on Aug. 15.

Tilt advised its shareholders on Tuesday to reject the offer which it claimed was "simply too low."

Infratil on Thursday cited "increased political and regulatory uncertainty in the Australian renewable energy sector" as among the reasons why the offer was fair.

(Reporting by Karthika Suresh Namboothiri; Editing by Chris Reese and Richard Chang)

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