But in the first instance, there may be options for bringing external capital into Kiwibank, which don't involve any sale whatsoever of the Crown's assets,” Willis said. One of these options may be to sell Kiwibank to a Crown investment entity such as the NZ Super Fund, which offered to buy the bank in 2021. The bid was conditional on NZ Super Fund being allowed to bring in private sector capital and possibly sell the asset in the future — terms which the Labour Government did not accept. Willis said she hadn’t spoken with ACC or the Super Fund about the possibility of reversing that transaction but had talked with some KiwiSaver fund managers “in passing”. Even with an extra billion dollars, Kiwibank would still be less than half the size of the next largest.

Source: Stuff August 07, 2024 08:42 UTC