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State Grid eyes stake in New Zealand power utility

China State Grid Corp and AMP Ltd are among companies considering buying Brookfield Infrastructure Partners LP's stake in a New Zealand utility, said three people with knowledge of the matter. Indicative offers for the 42 percent stake in Powerco Ltd, the country's second-biggest electricity and gas distributor by customers, are due this month, two people said, asking not to be identified as the information is private. Barclays Plc is advising Brookfield on the sale, which may fetch as much as NZ$450 million ($381 million), the people said. Access Capital Advisers, a Sydney-based fund manager with about $2.6 billion in assets, is also considering a bid for Powerco, the people said. QIC Ltd, an Australian investment fund, owns the rest of Powerco.

Xiamen bank gets nod for commercial transition