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flag Australian Powerco bought New Zealand’s Firstlight electricity network, and Canada’s Brookfield acquired its gas pipelines, in a $2 billion deal marking First Sentier’s exit.

flag On October 6, 2025, Australian-owned Powerco acquired Firstlight, New Zealand’s East Coast electricity network serving Tairāwhiti and Wairoa, while Canadian firm Brookfield bought the gas pipeline network from Clarus Group, including Firstgas. flag The deals, valued at around $2 billion, mark the exit of First Sentier Investors from New Zealand’s energy infrastructure after a strategic shift that included returning $14 billion to investors. flag The transactions conclude a four-year restructuring of Clarus assets and reflect growing international interest in New Zealand’s utility networks, with regulators expected to review the deals before finalization.

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