INDEPENDENT NEWS

Council stands firm on Powerco sale

Published: Mon 4 Oct 2004 11:48 AM
Council stands firm on Powerco sale
New Plymouth District Council remains confident of, and firmly committed to, achieving the sale of its Powerco shares in accordance with the terms of the lock-in agreement signed with Prime Infrastructure.
Chief executive Rodger Kerr-Newell said: “We have been monitoring recent developments very closely and our legal advice is quite clear - that the form of takeover offer being proposed by Prime is not in accordance with the terms of the lock-in agreement we signed.
“The community can rest assured that we will be seeking to protect our position and secure the transaction as it was originally agreed with Prime.”

Next in New Zealand politics

Retiring Chief Of Navy Thanked For His Service
By: New Zealand Government
Grant Robertson To Retire From Parliament
By: New Zealand Labour Party
New Zealand Provides Further Humanitarian Support To Gaza And The West Bank
By: New Zealand Government
High Court Judge Appointed
By: New Zealand Government
View as: DESKTOP | MOBILE © Scoop Media