Iwi seeks bigger local stake in Napier Port sale

Fri, 30 Nov 2018

by Gavin Evans Nov. 30 (BusinessDesk) - Ngati Pahauwera is urging Hawke’s Bay Regional Council to offer shares in Napier Port to residents and iwi at a discount in order to secure a local cornerstone holding in the firm. The iwi’s development trust said it would consider investing up to $5 million in the port, with a two-year restriction on sale, were the shares offered at a discount to the general offer. Trust chair Toro Waaka noted the council’s proposal to offer locals the first option over any shares sold. But in a submission on th...

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