Tranz Rail completes Aratere buy out

Tranz Rail today announced that it has completed the buy out of its lease of the ship Aratere.

In May of this year the company secured an option to buy out the lease after negotiations with the United States based parties to the arrangement. Last month the company announced it had decided to exercise that option.

Toll Finance (NZ) Limited provided the finance for the transaction and following this settlement, Tranz Rail now has full ownership of the Aratere.