A better way to structure council’s investments in Marsden Maritime Holdings and Northport

We are proposing a change to the structure of our council’s investments with Marsden Maritime Holdings and Northport to improve efficiency and get better outcomes for Te Taitokerau.

Northland Regional Council currently has a 53.6% shareholding in Marsden Maritime Holdings (MMH), which in turn has a 50% shareholding in Northport – a major strategic asset for the region.

The current structure isn’t as simple as it could be, and we think there's a better approach that will have real benefits for these entities and our region into the future.

We’re proposing to create a new joint-venture company combining MMH and Northport, together with investment partners Port of Tauranga and Tupu Tonu (Ngāpuhi Investment Fund Ltd).

This involves buying-out other parties’ shares in MMH (if enough current shareholders agree to the buy-out), delisting MMH from the New Zealand Stock Exchange (NZX) and creating a joint-venture company that combines MMH and Northport.

Making this change would require an amendment to our recently adopted Te Mahere Roa | Long Term Plan 2024-2034.

Before we can make any decisions, we need to hear from you – have your say by 28 March 2025.

Council’s shareholding in MMH is our largest investment, and the port is a critical piece of infrastructure for this region.

We believe this will set Northport up for the future by simplifying MMH’s ownership structure, combining the port and land-based assets and bring full control of Northport under a single ownership umbrella, and ensuring half of the shareholding is held here in Te Taitokerau.

The proposal provides an opportunity for hapū and iwi investment partners to come on board, both now and in the future.

It would also give council a bigger stake in the revenue-generating elements of the assets, including the port. Investment revenue helps subsidise rates and pay for the services we deliver.

Importantly, it’s proposed that council’s additional investment will have no impact on rates but would be funded through a combination of borrowings and the sale of other property holdings.

You can read more in our consultation document below.

There’s a lot to consider with this proposal, and we’ve put together a consultation document to try and explain things as clearly as possible.

Read the Consultation Document open in new window open in new window

For more detail, see “Other key information” below.

Before our council makes any decisions, we want to understand our communities’ views on this proposal.

The feedback period is open until 28 March 2025.

Open - Online feedback form open in new window open in new window

If you’d prefer to give feedback in another way, you can also:

Hearings – register your interest by Friday 21 March (on your feedback form)

Hearings on this proposal will be held on 3 April 2025.

If you’d like to speak at a hearing, please let us know by email to [email protected] or tick the box in the feedback form above.

You can appear in-person or online at the hearings.