The Finance Minister says there's no mandate to reduce the state's shareholding in Genesis Energy. 

The Crown's directing $200 million towards new shares to retain a 51% shareholding in the company, following a $400 million capital raise.  

Nicola Willis told Mike Hosking if we don't take part in this raise, we'd be breaching the law requiring the state to maintain majority ownership – something the coalition's committed to.  

She says we don't want to be a barrier to these energy companies growing in the way New Zealanders need to secure electricity supply. 

LISTEN ABOVE 

The Finance Minister says there's no mandate to reduce the state's shareholding in Genesis Energy.&nbsp;
The Crown's directing $200 million towards new shares to retain a 51% shareholding in the company, following a $400 million capital raise. &nbsp;
Nicola Willis told Mike Hosking if we don't take part in this raise, we'd be breaching the law requiring the state to maintain majority ownership – something the coalition's committed to. &nbsp;
She says we don't want to be a barrier to these energy companies growing in the way New Zealanders need to secure electricity supply.&nbsp;
LISTEN ABOVE&nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...

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Nicola Willis: Finance Minister on the Government buying $200 million in new Genesis shares

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/d5140a58-282e-4f1d-9b09-b3fa013f0b88/transcript