What’s at stake: A consortium bid to take Northport owner Marsden Maritime Holdings private, with a scheme of arrangement to buy out minority shareholders at $5.60 a share.
Background: Under the deal, Northport would become a wholly-owned subsidiary of Marsden, which would delist from the NZX. In turn, Marsden would be 50% owned by Port of Tauranga, 43% owned by Northland Regional Council, and 7% owned by Crown-owned investment company Tupu Tonu.
Main players: Northport, Marsden Maritime Holdings, Port of Tauranga, Northland Regional Council, Tupu Tonu, Ben Dalton, Ngāpuhi.
Tupu Tonu, the Ngāpuhi Investment Fund, has taken its most significant step yet, joining a consortium in a $108 million bid to take full ownership of Marsden Maritime Holdings and Northport.
The consortium, which also includes the Northland Regional Council and Port of Tauranga, aims to consolidate
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What’s at stake: A consortium bid to take Northport owner Marsden Maritime Holdings private, with a scheme of arrangement to buy out minority shareholders at $5.60 a share.
Background: Under the deal, Northport would become a wholly-owned subsidiary of Marsden, which would delist from the NZX. In turn, Marsden would be 50% owned by Port of Tauranga, 43% owned by Northland Regional Council, and 7% owned by Crown-owned investment company Tupu Tonu.
Main players: Northport, Marsden Maritime Holdings, Port of Tauranga, Northland Regional Council, Tupu Tonu, Ben Dalton, Ngāpuhi.
