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Tauranga ups ante in merger talks
01 Mar 2007
Port of Tauranga chairperson John Parker has cast doubt over the proposed merger with Ports of Auckland, following a comment the two ports will this month need to discuss “whether or not, and how” the merger progresses.
Although he also indicated the two parties still wanted the merger to proceed, he added: “The devil is always in the detail, agreeing something in principle doesn’t always mean that it is done.”
It had been speculated that Mr Parker’s statement was in response to Auckland Regional Council chairperson Mike Lee comment that Auckland should now command a share of more than 50% in any merger due to its winning of Maersk Line’s northern hub port status. Previous reports had suggested the two port companies would take a third share each in any merged entity, with an additional third share going to private investors.
