WELLINGTON - Todd Corporation has set up a company to take charge of its big investments outside the energy industry.
The restructured Todd Corporation, based in Wellington, will now have two main operating companies - Todd Energy and the new Todd Capital - as well as a range of other portfolio
investments, according to newspaper advertisements.
Todd Capital would be a long-term investor, seeking large shareholdings in New Zealand and Australia, directly and in partnership with other companies. Its key investments would include a 25 per cent stake in Clear Communications and 7.91 per cent of Sky Network Television.
Todd also owns, through associate companies, a 20 per cent stake in listed Shortland Properties, but it was unclear if this would be part of Todd Capital.
Last month Todd sold its 19.9 per cent stake in Australian telecommunications group AAPT. - NZPA
