19 Feb 2010

Port merger work stepped up

12:29 pm on 19 February 2010

The boards of the Lyttelton Port Company and Port of Otago have agreed to continue working on a merger of their port operations.

The two boards signed a memorandum of understanding to explore the possibilities of a merger in 2008 and have now received an independent report commissioned on the possibility.

Both say they are satisfied that the potential benefits of a merger mean they should move to more detailed negotiations - and they are treating the matter with urgency.