Ports of Auckland buys out Nexus Logistics partner

Mon, 01 May 2017

By Paul McBeth May 1 (BusinessDesk) - Ports of Auckland has bought out its joint venture partner in the Nexus Logistics entity set up just two-and-a-half years ago to provide logistics and distribution services around the country. The Auckland Council-owned port operator today acquired the 50 percent stake in Nexus owned by the privately held transport and logistics firm Netlogix, it said in a statement. The company didn't disclose the price but the port valued its 50 percent share at $2.6 million as at June 30, 2016, and had extended a...

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