CCHL to acquire Port Otago stake in Lyttelton Port Company
CCHL to acquire Port Otago stake in Lyttelton Port
Christchurch Mayor Lianne Dalziel has welcomed the announcement that Christchurch City Holdings Ltd has entered a lock-up agreement with Port Otago Limited for Port Otago’s 15.48% holding in Lyttelton Port Company Limited.
The lock-up agreement is the beginning of a process leading to CCHL owning 100% of LPC and delisting it from the New Zealand Stock Exchange.
Christchurch City Holdings Ltd (CCHL) is the independent investment arm of the Christchurch City Council.
“I am aware that CCHL has been trying to acquire this block of shares in LPC for a number of years, and this is welcome news,” said Christchurch Mayor Lianne Dalziel.
“The delisting of LPC will give us a lot more options to ensure its strategic direction is aligned to that of the region,” said the Mayor.