Vector to buy Meridian Energy's Arc Innovations

Author
Sam Thompson,
Section
Business,
Publish Date
Wednesday, 26 November 2014, 10:52a.m.
Lines company Vector has been given the green light to buy Meridian Energy's metering and asset service business - Arc Innovations (Edward Swift)
Lines company Vector has been given the green light to buy Meridian Energy's metering and asset service business - Arc Innovations (Edward Swift)

Lines company Vector has been given the green light to buy Meridian Energy's metering and asset service business - Arc Innovations.

Commerce Commission approval was required after Vector was selected as the preferred buyer .

This follows Meridian's decision that Arc would be better served by an owner that has smart meter ownership and services as part of its core strategic focus.

The price has not been disclosed, but the sale is expected to be completed early next month.

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