Port of Tauranga

Merger Talks Continue

Posted on 21st December 2006

Port of Tauranga Chairman, John Parker announced today that discussions between the companies regarding the merger of the company with Ports of Auckland Limited are continuing in a constructive and positive manner.

“There is still a considerable amount of detail to work through. We expect that this work will take some months to complete and we will advise shareholders when merger terms have been agreed. Our current objective is to report again to shareholders by the end of March next year” said Mr Parker.

“Both companies Boards recognise the potential for significant efficiency gains and the importance of ensuring the dynamics of the New Zealand port sector are determined by New Zealand interests” said the Chairman of Ports of Auckland, Gary Judd.

ARH Chair Judith Bassett said “Auckland Regional Holdings supports the continuation of merger discussions between the two parties and looks forward to advancing mutual understanding.”

For further information contact:
Tina Symmans 021 482 297