Port of Auckland has today confirmed a $45 million special dividend will be paid to Auckland Council after completing the sale of its shareholding in Marsden Maritime Holdings (MMH).
The decision follows a strategic review by Port of Auckland of its investment in Marsden Maritime Holdings.
With the changes currently underway to the ownership structure at MMH, the Port of Auckland Board decided that it was the right time to divest its shares.
“The Board's decision to sell the shares aligns with our long-term strategy and allows us to focus on our core Auckland operations, future opportunities, and provide proper returns to the shareholder. We continue to build on Port of Auckland’s advantage of the quickest, most reliable, and lowest carbon way into and out of the Auckland region.,” says Jan Dawson, Port of Auckland Chair.”
Auckland Council has agreed that the $45m proceeds from the sale will be transferred to the Auckland Future Fund as a capital contribution.
