POT - Proposal to acquire MMH passes Council vote
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 today approved the necessary
amendments to the Council’s Long Term Plan 2024-2034 to change the
structure of its interests in MMH and Northport.
MMH shareholders will receive scheme documents and an Independent
Appraiser’s report ahead of a special meeting to vote on the proposal.
If it is approved, Northland Regional Council (NRC) will hold a 43% stake in
the new and enlarged company, with Port of Tauranga taking a 50% stake
and Tupu Tonu a 7% stake. NRC and Port of Tauranga will have equal
decision and voting rights. Northport is currently owned 50/50 between
Port of Tauranga and MMH.
The Council’s media release regarding today’s decision is here:
https://www.nrc.govt.nz/news/2025/april/nrc-given-green-light-to-
consortium-takeover-of-mmh/.
For more information, please contact:
Geoff Senescall
Ph 021 481 234
Media Release
22 APRIL 2025
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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