Story: Large companies

Electricorp giant cheque

Roger Douglas, Richard Prebble, and John Fernyhough with a very large cheque.

Finance Minister Roger Douglas (left) and State-Owned Enterprises Minister Richard Prebble are presented with a cheque for $6.3 billion by Electricorp chair John Fernyhough in 1988. At the time this was the biggest financial transaction in New Zealand's history. This was part of the corporatisation and privatisation of state-owned enterprises that occurred in the late 1980s and into the 1990s.

Using this item

Alexander Turnbull Library, Dominion Post Collection (PAColl-7327)
Reference: EP/1988/1693/20a
Photograph by Ross Giblin

Permission of the Alexander Turnbull Library, National Library of New Zealand, Te Puna Mātauranga o Aotearoa, must be obtained before any re-use of this image.

All images & media in this story

How to cite this page:

Gary Hawke, 'Large companies - Large companies, 1980 to early 2000s', Te Ara - the Encyclopedia of New Zealand, (accessed 11 August 2022)

Story by Gary Hawke, published 11 Mar 2010