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

 

CCHL to acquire Port Otago stake in Lyttelton Port Company

CCHL to acquire Port Otago stake in Lyttelton Port Company

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.

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Testing And Decontamination: New Standard On Meth Residue

Standards New Zealand has today released NZS 8510:2017 Testing and decontamination of methamphetamine-contaminated properties ... More>>

ALSO:

Mince, Etc: US Food Poisoning Lawyer At Conference

As New Zealand chefs, food experts, and MPI debate what constitutes a cooked beef burger, leading US food safety litigator Bill Marler, who made his name prosecuting the burger company responsible for a major E. coli outbreak, is keynote speaker at the Food Integrity Conference. More>>

ALSO:

Petya: New Ransomware Campaign Hits Worldwide

A new ransomware campaign known as Petya is affecting computer networks using Microsoft Windows. It was first seen affecting systems in the Ukraine, but is quickly spreading across other computer networks in Europe. More>>

ALSO:

Skodafone Goneski: Sky TV, Vodafone Drop $3.44 Billion Merger Plan

Sky Network Television and Vodafone New Zealand have terminated their merger agreement which aimed to create the country's largest telecommunications and media group, and have withdrawn an appeal against the Commerce Commission's rejection of the plan. More>>

Quake Insurance: Reforms To EQC Act Announced

· Increasing the monetary cap from $100,000 (plus GST) to $150,000 (plus GST) for EQC building cover.
· Clarifying EQC land cover is for natural disaster damage that directly affects the insured residence or access to it... More>>

ALSO: