14 February 2025
Marlborough Lines Limited and Network Tasman Limited are pleased to announce that they have entered into an agreement for the sale and purchase of Marlborough Lines' shareholding in Nelson Electricity Limited to Network Tasman for a purchase price of $26.7 million.
Nelson Electricity currently serves 9,379 connections in a concentrated area of 24 square kilometres. Marlborough Lines and Network Tasman have jointly owned Nelson Electricity since 1996.
Mr Phil Robinson, Chair of Marlborough Lines, commented: "After a long period of successful joint ownership, Marlborough Lines has made the decision to sell its 50% shareholding to its joint shareholder, Network Tasman. Marlborough Lines will utilise the proceeds from the sale to invest in Marlborough based renewable generation opportunities, including those currently underway through its subsidiary Energy Marlborough Limited."
Ms Sarah Smith, Chair of Network Tasman, noted, "This acquisition represents a sensible consolidation of the electricity networks for the Nelson and Tasman region. Nelson Electricity will continue to operate as a standalone company, with services provided by Network Tasman from our offices in Hope".
Ms Smith commented: "This purchase will be funded through existing debt facilities and will not impact prices charged to either Nelson Electricity or Network Tasman consumers."
Ms Smith thanks Marlborough Lines for their work over the last 29 years as a joint venture partner and wishes them well in their future activities.
For further information, please contact:
Marlborough Lines Limited
Mr Phil Robinson
Chair
Email: phil.robinson@mll.co.nz
Phone: 021 455 329
Network Tasman Limited
Ms Sarah Smith
Chair
Email: sarah@sasco.co.nz
Phone: 021 685 049
Key Details of the Transaction
Details of the Transaction
Impact on Operations
