Scoop has an Ethical Paywall
Toll NZ buys back full share in Tranz Scenic
20 May 2004
Toll NZ buys back full share in Tranz Scenic
Auckland, New Zealand -Toll NZ Limited [NZSX: TRH]
Toll NZ announced today that the company has regained full ownership of the long distance rail passenger service, Tranz Scenic. In 2001, Tranz Rail sold a fifty per cent share in Tranz Scenic to two Australian rail enthusiasts, Don Gibson and Gary McDonald.
Toll NZ chief executive officer David Jackson says, "the decision to return to full ownership of Tranz Scenic follows a full review of all the interests Toll Holdings acquired following the partial take over of Tranz Rail last year.
"Our assessment was that it made sound strategic and operational business sense to regain full ownership of Tranz Scenic," says Mr Jackson. Tranz Scenic consists of The Northerner and Overlander between Auckland and Wellington, the Capital Connection between Wellington and Palmerston North, the Tranz Coastal between Picton and Christchurch and the Tranz Alpine between Christchurch and the West Coast. Management will continue to review all these services.
ENDS
Parrot Analytics: Paramount Earnings - Can Ellison Strike The Right Balance?
NZ Trade and Enterprise: NZ Businesses Deliver $340 Million Trade Boost For New Zealand In China
Ngā Manu Nature Reserve: Celebrating The Return Of Tuatara To Ngāti Koata And Brook Waimārama Sanctuary
Employers & Manufacturers Association: Work-related Injuries In Manufacturing Create $1.23 Billion Economic Burden On NZ
Consumer NZ: Consumer NZ Questions Supermarket Specials: Are They Really Saving You Money?
NIWA: October Climate Summary - A Mild Month Overall, Very Wet For Much Of The South Island
