Move slams brakes on $15m Fluidex deal

Move slams brakes on $15m Fluidex deal
Fluidex said to have "reneged' on the terms of the transaction. (Image: Fluidex)
Brent Melville
Move Logistics has walked away from its deal with private bulk transport company Fluidex Transport after shareholder Tony Galbraith "reneged" on the $15.2 million transaction.Move's executive director, Chris Dunphy, said the transport and logistics firm opted to terminate the sale and purchase agreement after the vendor sought better terms.The transaction – announced less than a month ago on Aug 24 – included an upfront payment of $7m by the end of October, with the cash/shares balance due in July 2024.It was considere...

More Transport

Eroad posts loss in half-year speedbump
Markets

Eroad posts loss in half-year speedbump

A soft NZ dollar and economic pressures had a notable impact, but the CEOs are optimistic.

Global boat hire club enters NZ market
Transport

Global boat hire club enters NZ market

Kiwi secures franchise rights to launch Freedom Boat Club in New Zealand.

Transport dominates investment intentions - Treasury
Policy

Transport dominates investment intentions - Treasury

NZTA forecast investments of $120b over the next 10 years, dwarfing other agencies.

Oliver Lewis 20 Nov 2024
The case for concrete roads
Infrastructure

The case for concrete roads

NZTA doesn't use them, but new report suggests their whole-of-life cost is cheaper.

Oliver Lewis 20 Nov 2024