Port of Lyttelton battle cools
Otago achieved the 15% stake in the Port of Lyttelton company on the 12th April, 2006 and a takeover bid by the Christchurch City Council’s commercial arm was hampered.
Christchurch City Holdings’ ambition had been to attain full control, and then do a deal with Hong Kong port operator Hutchinson, which it believed “is better placed to win back shipping customers and make the port more efficient”.
But Otago’s intervention has seen Hutchinson withdraw, and the takeover bid failed to gain momentum.
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