27 Jun 2016

Christchurch roading company sale dragging on

2:28 pm on 27 June 2016

The sale of the Christchurch City Council-owned roading and maintenance company City Care is taking longer than expected.

The sale was supposed to be finalised by the end of this month, but the council now says negotiations with potential buyers will continue beyond that time.

A new deadline has not been set, and the council-owned Christchurch City Holdings has refused to say who it is negotiating with.

The sale is supposed to generate up to $200 million, and is the first of a planned $600m worth of asset sales.