http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10565553&pnum=0 April 7, 2009 Alasdair Thompson of the Employers and Manufacturers Association (Northern) could be forgiven his sentimental journey down memory lane with the election of the National Government. However, his dream of selling off the Ports of Auckland didn’t float in the glory days of the 1990s when selling off the family silver was in [...]
http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10561238 A review of the capital structure of Ports of Auckland is proving controversial even before options are recommended to its public owners. One possible recommendation could advance private ownership in the port company. This was yesterday seized on by the Greens, who linked any such move to local government reforms that could eliminate the [...]
The prospect of New Zealand’s largest port operation being sold to private owners has been raised as a result of the global economic situation. Ports of Auckland board chairman Gary Judd suggested it could be the right time to consider privatisation after the company’s half-year result showed a sharp drop in profit. But the future [...]
http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10560985 The prospect of New Zealand’s largest port operation being sold to private owners may be explored as a result of the global economic situation. Ports of Auckland board chairman Gary Judd said it was the right time to review all possibilities for the port’s structure. His comment came after the company’s half-year result [...]
Joint statement from Port Otago Limited Chairman, John Gilks and Lyttelton Port Company of Christchurch Chairman, Rodger Fisher, 30 October 2008 “Port Otago Limited [POL] and Lyttelton Port Company of Christchurch [LPC] have today announced that a Memorandum of Understanding has been signed to explore a merger of their respective port operations.
The Otago Daily Times reports: The Otago Regional Council has rejected a suggestion Port Otago sell its 15.5% stake in rival Lyttelton Port Company, worth about $35 million, in preferance to borrowing $37.5 million to fund Dunedin’s proposed stadium. Financial research by brokerage ABN Amro Craigs had suggested Port Otago, 100%-owned by the regional council, [...]
The Press reports that foreign investors seeking a major stake in key South Island assets such as port companies and airports are likely to be blocked under new rules to protect strategically important infrastructure. The Government moved late on Monday to effectively block the sale of Auckland International Airport to the Canadian Pension Plan Investment [...]
http://www.nzherald.co.nz/section/3/story.cfm?c_id=3&objectid=10469847 Lyttelton Port is 75 per cent owned by Christchurch City Council. Port Otago – which holds a 15 per cent stake, worth almost $40 million, in listed rival Lyttelton Port – is tipped to lead changes which could see a merger between the South Island operators. Port Otago chairman John Gilks has rejected reports [...]
http://www.stuff.co.nz/4231604a23399.html Hong Kong giant Hutchison Whampoa made an approach to buy a stake in the Ports of Auckland after its failure to shore up a deal with Lyttelton Port, inside sources say. Hutchison, the vehicle of magnate Li Ka-shing, has port operations in every continent except Australasia. It is one of the world’s largest privately-owned [...]
Lyttelton Port of Christchurch (LPC) shares have closed at a record high amidst renewed interest in the port sector and speculation of ports merging. LPC shares yesterday closed 8c higher at 248c, a new peak in their 12-month range which saw them as low as 190c. Shares in South Port, based in Bluff, closed 10c [...]