Infratil says it has finalised the purchase of Shell New Zealand in a $696.5 million joint venture deal with the NZ Super Fund.
The deal includes 229 services stations and 95 truck stops nationwide, finance and management of up to 650m litres of fuel inventory, and 17.1 per cent of the New Zealand Refining Company - which operates the Marsden Point oil refinery.
Shell's new owners say that dividends from the business will now mainly flow to New Zealand shareholders - and the public, via the investment by the Super Fund.
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