Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Ceres’s local unit interested in buying Mainzeal

Ceres Environmental’s local unit interested in buying Mainzeal from receivers

Feb. 8 (BusinessDesk) – CeresNZ, the Christchurch-based unit of American firm Ceres Environmental Services, says it has a “strong interest” in buying Mainzeal Property and Construction from the receivers.

CeresNZ plans to have preliminary talks with the receivers, betting that the rebuild of Christchurch provides a role for the “highly skilled people within Mainzeal,” according to a statement posted on the Scoop website.

Mainzeal, part of Richard Yan’s Richina group, was placed in receivership this week after failing to make payments on its credit facilities, having become embroiled in lawsuits related to the leaky buildings saga.

“Strategically, CeresNZ sees this as an extremely positive opportunity for growing the business,” said company spokesman Bernie de Vere. Financing for its local projects has been provided by US private equity firm Vesta Equity, owned by David McIntyre.

CeresNZ has been involved in demolition and rebuilding in Christchurch. The parent company was involved in the clean-up after Hurricane Katrina and the earthquake in Haiti, according to its website.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Suspected Black Widows: Table Grapes Withdrawn From Sale Following Spider Discovery

The Ministry for Primary Industries (MPI) is working closely with New Zealand produce retailers to have all imported Mexican table grapes withdrawn from sale following the discovery of spiders in a small number of consignments. More>>

ALSO:

Crown Accounts: 11-Month Surplus Beating Forecasts

Once minority interests’ share of revenues and expenses are removed, the total Crown’s operating balance before gains and losses (OBEGAL) was a surplus of $1,176 million in the eleven-month period. This compares to a forecast surplus of $193 million. More>>

ALSO:

Development: Screen Precinct Earmarked For Hobsonville Point

Auckland Council’s Auckland Development Committee has today passed a recommendation to create a screen precinct on council-owned land at Hobsonville Point. More>>

ALSO:

Scoop Business: NZ Business Confidence Plummets To Lowest Level Since GFC

New Zealands business confidence plunged to the lowest level in three years in the second quarter as companies became pessimistic about profitability expectations. More>>

ALSO:

Oceans: NZ Jumps Into International Shark Agreement

New Zealand has boosted the protection of sharks by signing the Memorandum of Understanding on the Conservation of Migratory Sharks. More>>

ALSO:

Insurance: EQC To Double Payout, Scrap Contents Insurance

New Zealand’s Earthquake Commission may double its payout amount, scrap contents insurance and process claims through private insurers under the government’s long-running review of funding and management of the state-run earthquake insurer. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news