Council forms new holding company for Napier Port sale

Wed, 27 Mar 2019

By Gavin Evans March 27 (BusinessDesk) - Hawke’s Bay Regional Council has approved the creation of a new holding company to advance the sale of shares in Napier Port. The council will decide in coming weeks whether to proceed with the sale of up to 49 percent of the port through an initial public share offer. Today it approved the creation of Napier Port Holdings, the shares of which would be offered in the minority IPO and listing on NZX. The new vehicle simplifies the process by not requiring the port company and the council’s inv...

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