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Auckland Ports acquired by ARH
01 Sep 2005
Ports of Auckland is to return to full public ownership following the US$117.5m takeover bid of Auckland Regional Holdings (ARH) surpassing 90% acceptance. As a consequence, the statutory entity of the Auckland Regional Council can now enforce compulsory acquisition of the outstanding 10% shareholding of New Zealand's largest port company.
Speculation has arisen that the ARH may subsequently part with the operations side of the port business to concentrate on its US$125.7m valued waterfront property. Local rail company Toll NZ has confirmed it would be interested in such a possibility. Such an investment would be consistent with the Toll Group's spread of logistics interests in Australia.
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