Tauranga, Auckland merger talks moving positively

Tauranga, Auckland merger talks moving positively New Zealand’s Port of Tauranga said today that merger talks with Ports of Auckland Ltd. “are continuing in a constructive and positive manner.”
   The two port operators in October announced the possibility of a merger, faced with what they described as a changing environment with fewer vessel calls and foreign ownership interest.
   “There is still a considerable amount of detail to work through,” said John Parker, chairman of the Port of Tauranga.
   “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,” he said.