Port of Tauranga calls off merger talks with Auckland
New Zealand’s Port of Tauranga today withdrew from formal discussions with Ports of Auckland regarding a potential merger.
The merger proposal has was tabled by Ports of Auckland more than 12 months ago and the Port of Tauranga said its decision was due to Auckland Regional Holdings, the owners of Ports of Auckland, being unable to decide whether the merger is worth undertaking, or the terms on which they would be prepared to pursue the deal.
“We believe a very sound business case exists for the merger and are reluctantly withdrawing from discussions,” said John Parker, Port of Tauranga chairman. “Port of Tauranga is cognizant of the need for New Zealand to solve its infrastructure deficit and when the opportunity to merge arises in the future, Port of Tauranga is ready and able to participate.”
Port of Tauranga calls off merger talks with Auckland
