The owners of the New Zealand port of Lyttelton stunned everyone when they announced a partnership with global giant Hutchison Port Holdings. While not all the locals approve of the plan, it could be the shape of things to come, On February 13, Christchurch City Holdings Ltd (CCHL), the investment arm of the Christchurch City Council on New Zealand's (NZ) South Island, announced it was seeking to buy the 21% of shares in the Lyttelton Port Company (LPC) it did not already own. CCHL was prepared to pay NZD2.10 (USD1.3) a share, 20% above the last closing price, valuing the port at NZD214 (USD133.8) million.
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