TypeAgencyDate Range1994-1996DescriptionAt the request of Wellington City Council, Capital Holdings Ltd invited offers for purchase of a minority interest in Capital Power, providing an opportunity to "gain a partner who is able to provide technologies and capabilities for growth in to new areas of endeavour in the energy industry". In December 1994 Capital Energy Ltd was set up and 49% of its shares were sold to TransNewZealand Ltd, which was a subsidiary of TransAlta (Canada), with the Council owning the remaining 51% of shares. Capital Energy Ltd owned Capital Holdings Ltd, which owned Capital Power Ltd and its subsidiaries. Capital Holdings Ltd did not trade and its sole activity was to own the shares in Capital Power Ltd. The Company completed it acquisition of the shares in Capital Holdings Ltd from Wellington City Council on 20th January 1995. On June 17 1996, Wellington City Council offered to sell the remaining 51% shares of Capital Energy Ltd to TransNewZealand Ltd. This offer was accepted and became effective on the 25th June 1996. After TransNewZealand Ltd owned all the shares in the company a number of restructures were carried out. Capital Holdings Ltd amalgamated with Capital Energy Ltd, with Capital Energy carrying on as the amalgamated company. This became effective on the 5th August 1996. At the same time it was organized that Capital Energy Ltd and TEC Utilities (a TransAlta owned subsidiary) would amalgamate with Capital Power Ltd, with Capital Power carrying on as the amalgamated company. This became effective on the 6th of August 1996 and saw the end of Capital Energy Ltd. Sources: WCC Annual Reports WCC Annual Plans Capital Energy Ltd Director’s Minute Book
