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Lyttelton Port Company acquisition complete

Author
Newstalk ZB staff,
Publish Date
Fri, 24 Oct 2014, 5:43PM
The Christchurch City Council's investment arm has announced it has completed its acquisition of the Lyttelton Port Company (Photo: NZ Herald)
The Christchurch City Council's investment arm has announced it has completed its acquisition of the Lyttelton Port Company (Photo: NZ Herald)

Lyttelton Port Company acquisition complete

Author
Newstalk ZB staff,
Publish Date
Fri, 24 Oct 2014, 5:43PM

The Christchurch City Council's investment arm has announced it has completed its acquisition of the Lyttelton Port Company.

The take-over began in August when Christchurch City Holdings reached an agreement with Port Otago to take over its shares in the Lyttelton Port.

The company will be de-listed from the New Zealand Stock Exchange in November.

Christchurch City Holdings Chief Executive Bob Lineham says the Lyttelton Port will continue to be governed by its own board of directors accountable to the CCHL.

He says they're committed to recognised good governance practices within the group.

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