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The NZ Super Fund and the Accident Compensation Corporation’s purchase of minority stakes in Kiwibank has been welcomed by Finance Minister Bill English and State Owned Enterprises Minister Todd McClay.

“The deal keeps Kiwibank in public ownership and gives the bank access to additional sources of capital,” Mr English says.

“It also returns a dividend of about $200 million to the Government which can be used for other high priorities.”

The sale of Solid Energy’s mines provides the best outcome for employees, creditors and communities, Finance Minister Bill English and State Owned Enterprises Minister Todd McClay say.

Solid Energy announced today that it had reached agreement on the sale of the Stockton, Strongman and Liverpool mines on the West Coast, the  Rotowaro and Maramarua mines in the Waikato and the New Vale and Ohai coal mines in Southland.

Finance Minister Bill English and State Owned Enterprises Minister Todd McClay announced today that Trevor Janes will be the next chair of KiwiRail, and former State Owned Enterprises Minister Tony Ryall will be the next chair of Transpower.

Mr Janes has been appointed a director of KiwiRail from today and will take over as chair from 1 November. He succeeds John Spencer who has chaired KiwiRail for four years and before that its predecessor, the New Zealand Railway Corporation, for two.

Finance Minister Bill English and State Owned Enterprises Minister Todd McClay have announced the appointment of Jane Taylor to the Board of NZ Post commencing today.

She will become chair of NZ Post when present chairman Sir Michael Cullen retires on 31 October 2016.

“I would like to take this opportunity to thank Sir Michael who has provided excellent stewardship of the Board, and made a significant contribution to the restructuring and success of NZ Post over the past six years,” Mr English says.