Hawke's Bay Council buys remaining share of port

Published: 11:00AM Wednesday December 23, 2009 Source: Newstalk ZB

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  Source: Close Up

Hawke's Bay Regional Council has bought the 8.3% share of Port of Napier held by the Horizons Regional Council.

It now has 100% ownership.

Regional Council Chairman, Alan Dick, says it allows for efficient restructuring of the Council's investment portfolio.

Horizons Regional Council Chairman, Garrick Murfitt, says the sale price is confidential at this stage, but the cash gained will be invested in the region for the benefit of all ratepayers.

He says the details of that will be worked out in the New Year.

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