UPDATE: Iwi seeks bigger local stake in Napier Port sale

Fri, 30 Nov 2018

(Adds council rejection of local discount in first and from 12th paragraph.) 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, an idea the council has already rejected. 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 chai...

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