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Tainui Group cautious about Mighty River share buy – Waatea
Tainui’s commercial arm isn’t keen to get involved in the investment in state assets being touted by the tribe’s former chairman.
But Mike Pohio from Tainui Group Holdings says any spare capital is going towards Te Rapa and the proposed urban port at Ruakura.
“There are a number of development proposals we need to progress. Certainly finishing off The Base is our focus, and our second area of concentration is in the development of Ruakura, and while we do have some spare investment capacity, as far as there mixed ownership model is concerned, at this point we don’t have the financial information in which to make any investment decision,” he says.
Tainui Group Holdings’s assets grew to just under $700 million in the year to the 30th of March and it paid and $11 million dividend to Waikato-Tainui, which uses the money to fund tribal administration and activities such as scholarships.
To read more, please click here: http://www.waatea603am.co.nz/news/2012/june/tainui-group-cautious-about-mighty-river-share-buy