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

 

New Zealand Post sells Localist

New Zealand Post sells Localist

2 April 2014

New Zealand Post Group has sold its subsidiary company Localist.

The business was purchased by a group led by Localist CEO Christine Domecq.

New Zealand Post Group CEO Brian Roche said the sale is a good outcome for New Zealand Post and Localist.

"Following New Zealand Post's announcement late last year of its future strategy, we are now strongly focused on core services and developing growth initiatives across our parcels, financial services and network businesses.

"The Localist business is no longer a part of that future strategy."

Mr Roche said Localist had entered a new phase.

"There have been encouraging signs of progress for Localist over the last 12 months and its new team is excited about its future direction."

New Zealand Post will work with Localist over the next two months to ensure an orderly transition of the business.

The company was sold for an undisclosed sum.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO:

Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>

ALSO:

Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>

ALSO:

Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>

ALSO: