Wednesday, 1 October 2003, 10:35 am Press Release: Tranzrail
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.
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