Ngai Tahu has bought the Crown’s 2.82 per cent stake in Invercargill Airport.
State-Owned Enterprises Minister Tony Ryall said today the Crown has sold its shareholding for $5600 to four papatipu rūnanga of the Ngai Tahu iwi.
"The Government has never received a dividend from the investment in Invercargill Airport Ltd. Invercargill City continues to hold 97.18 per cent of the shares in the company,” Mr Ryall said.
The Crown’s shareholding in the company was subject to a Deed of Grant of Right of First Refusal held by Te Rūnanga O Ngāi Tahu, which outlined a process to be followed in the event of the Crown deciding to sell its shares.
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