Vector to Undertake Strategic Review of Metering Business

New Zealand-based energy company Vector has today announced a strategic review of its smart metering business, which provides innovative smart meter data services from more than two million electricity and gas meters throughout New Zealand and Australia.

Vector Group Chief Executive Simon Mackenzie said, “Smart metering has become a critical part of the transformation and digitalisation of the energy sector around the world, and we are seeing strong demand from investors for these businesses.

“Vector is an industry leader, and has spent the past 13 years growing Vector Metering into a substantial and successful business. Our work is recognised by global organisations, including Amazon Web Services with whom we have a strategic alliance.

“In recent times, a number of highly credible organisations have made unsolicited approaches to us expressing an interest in partnering with us and investing in the New Zealand and Australia metering business. In this context Vector considers it prudent to assess options for its metering business.”

The strategic review is expected to take a number of months, with Citi appointed to assist with the process. No decisions will be made until the completion of the process.

ENDS

•  Vector to Undertake Strategic Review of Metering Business

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Spark New Zealand appoints new director to the Spark Board
AFT to announce full year results on May 23 2024
CRP - Korella North Takes Another Two Steps Forward
May 3rd Morning Report
ASB workers to strike as bank proposes an effective pay cut
Rising tides, sinking stocks: study explores cost of climate change
May 2nd Morning Report
AGL - Change in Senior Management
Devon Funds Morning Note - 01 May 2024
Rick Christie to step-aside as a non-executive director