UPDATE 1-NZ's Infratil posts first half loss on writedowns
* Infratil's first-half in red on assets writedown
* Dividend unchanged at 2.5 cents
* Still in talks to buy Shell's NZ assets (Adds details, outlook)
WELLINGTON, Nov 17 (Reuters) - New Zealand utilities investor Infratil Ltd (IFT.NZ) posted a first-half loss on Tuesday after writing down assets, and repeated its interest in buying Shell's downstream and refining assets in the country.
The company said it expected its full year earnings to be higher than the previous year as it continued to streamline its assets.
Infratil said it was still in talks with the local subsidiary of oil giant Royal Dutch Shell (RDSa.L) over acquiring the its downstream and refining businesses, a deal that could be worth NZ$1 billion ($750 million) [ID:nWEL511549].
Shell is one of the largest players in the energy market in New Zealand, with a network of more than 200 petrol stations and storage and pipelines. It said in February it was considering divesting some or all of the assets.
Infratil's loss after tax was NZ$31.4 million in the six months to Sept. 30, compared with a NZ$7.3 million profit a year earlier. It also declared an unchanged dividend of 2.5 cents a share.
Infratil said its operating surplus was up slightly at NZ$70.4 million. It incurred NZ$80 million of charges in asset writedowns and the revaluation of financial instruments, partly offset by NZ$26.2 million gained on the sale of investments.
Infratil shares closed on Monday at NZ$1.54.
The company's main investment is a 51 percent stake in power company TrustPower (TPW.NZ).
Infratil owns Glasgow Prestwick and Kent international airports, and two-thirds of Wellington International Airport. In the past month Infratil has sold its 90 stake in Luebeck Airport, and its small stake in Auckland International Airport (AIA.NZ).
Infratil's other investments include New Zealand Buses Ltd, the country's biggest public transport provider, and stakes in Australian power generators and retailers. ($1=NZ$1.34)
