Hawke's Bay council favours float of 45% of Napier port

Gavin Evans
Tue, 02 Oct 2018

By Gavin Evans Oct. 3 (BusinessDesk) - Investors may get a chance to buy $181 million of shares in New Zealand’s fourth-largest container port. Hawke’s Bay Regional Council is recommending to its 70,000 ratepayers that the council sell up to 45 percent of the Port of Napier in order to free up capital and diversify the council's investment base. The share sale, one of four options ratepayers will be asked to consider, could raise $83 million for the council after port-related debt of almost $87 million is repaid and sale costs of about...

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