Ngāi Tahu buys 2.82% Crown stake in Invercargill Airport
Hon Tony Ryall
Minister for State Owned Enterprises
Ngāi Tahu buys 2.82% Crown stake in Invercargill
The Crown has sold its 2.82% shareholding in Invercargill Airport Ltd for $5,600 to four papatipu rūnanga of the Ngāi Tahu iwi, State-Owned Enterprises Minister Tony Ryall has announced.
“The Government has never received a dividend from the investment in Invercargill Airport Ltd. Invercargill City continues to hold 97.18% of the shares in the company,” Mr Ryall says.
The Crown’s shareholding in the company was subject to a Deed of Grant of Right of First Refusal held by Te Rūnanga O Ngāi Tahu which outlined a process to be followed in the event of the Crown deciding to sell its shares.