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Consortium buyout of MMH strongly supported by shareholders
Shareholders in Marsden Maritime Holdings (NZX:MMH) today voted for a buyout by a consortium comprising Northland Regional Council, Port of Tauranga Limited (NZX:POT) and Tupu Tonu. A joint announcement from the consortium is linked below. An application to the High Court will now be made to approve the Scheme of Arrangement, which will see the […]
Port of Tauranga, Zespri and TKL agree strategic partnership to grow kiwifruit exports
Port of Tauranga Limited (NZX:POT), Zespri and Tauranga Kiwifruit Logistics (TKL) have signed a five-year partnership to grow cargo volumes through the Port. Kiwifruit exports are expected to increase more than 2% a year through to 2029 as the size of Zespri’s annual harvest continues to expand. Port of Tauranga Chief Executive, Leonard Sampson, says […]
Proposal to acquire Marsden Maritime Holdings passes Council vote
Port of Tauranga’s consortium partner Northland Regional Council today voted to progress the proposed takeover of Marsden Maritime Holdings (NZX:MMH). Together with Tupu Tonu (Ngāpuhi Investment Fund), the consortium partners have offered to buy out minority shareholders in MMH via a scheme of arrangement and merge the company with Northport Limited. Following public consultation, councillors […]
Port of Tauranga lodges fast-track application for Stella Passage development
Port of Tauranga today announced it has lodged an application under the Fast-track Approvals Act 2024 for its proposed development of Stella Passage. The project involves extending the Sulphur Point container berth by 385 metres (in two stages) and the Mount Maunganui wharves by 315 metres, by converting existing cargo storage land within the port’s […]
Port of Tauranga returns strong first half performance and lifts profit guidance
Port of Tauranga Limited delivered a strong performance for the six months ended 31 December 2024, with Group Net Profit After Tax of $60.2 million – a 27.4% increase on the same period last year. Earnings and trade volumes recovered well after a particularly challenging start to the previous 2024 financial year. Total trade volumes […]
Consortium proposal to buy out Marsden Maritime Holdings
Please find attached a joint announcement from Northland Regional Council, Port of Tauranga Ltd and Tupu Tonu regarding a conditional agreement to buy out minority shareholders in Marsden Maritime Holdings. Port of Tauranga has entered into a Capital Contribution Agreement amongst the consortium partners to contribute $39.689 million (excluding transaction costs and wash-up adjustments), should […]
