Formats and related files
Only the Purpose of this Cabinet paper is extracted below in HTML. If you require a full accessible version please contact [email protected] and cite DEV-22-SUB-0051 as a reference.
Cabinet Paper DEV-22-SUB-0051: Update on Kiwi Group Holdings (Kiwibank)
- This paper updates Cabinet on negotiations with the New Zealand Superannuation Fund (NZSF) regarding the purchase of shares in Kiwi Group Holdings (KGH) and proposes that the Government moves to purchase sufficient shares in KGH to ensure KGH’s ownership is stable and the Crown can establish sustainable long-term ownership arrangements for KGH. An appropriation is sought to cover the additional cost of specialist commercial and legal expertise to advise on the transaction. The Minister of Finance and Associate Minister of Finance (Hon David Parker) will negotiate the purchase of KGH shares conditional on Cabinet approval of the necessary appropriations from Cabinet following the Budget moratorium.
Wednesday, 21 December 2022