MMH acquisition complete and POT sells Northport stake

Cons
Consortium completes Marsden Maritime Holdings
acquisition and Port of Tauranga sells its 50% stake
in Northport
Port of Tauranga (NZX: POT) today announced that all transactions have
been completed involving the Scheme of Arrangement for a consortium to
acquire the minority shareholdings of Marsden Maritime Holdings.
As part of the scheme, Port of Tauranga has sold its 50% share of
Northport to MMH (the other 50% shareholder). Port of Tauranga expects
to recognise a one-off gain of approximately $50 million from the sale in
the 2025 financial year. This non-recurring item is excluded from Port of
Tauranga’s underlying group earnings
1
and therefore does not affect its
earnings guidance range.
Port of Tauranga has been issued 50 million shares in the newly
incorporated Northport Group Limited.
Northport Group Limited is owned 50% by Port of Tauranga, 43% by
Northland Regional Council and 7% by Tupu Tonu (Ngāpuhi Investment
Fund Limited). MMH is now a 100% subsidiary of Northport Group Limited
and has been delisted from the NZX.
The first Board meeting of the new entity will be held next week.
For more information, please contact:
Rochelle Lockley
GM Communications
Email: Rochelle.Lockley@port-tauranga.co.nz
Ph: 021 865 884
1
Underlying earnings excludes such items as revaluaƟons, impairments and one-off non-operaƟng items
Media Release
26 JUNE 2025