Garry Moore's Reply

Here's Christchurch Mayor, Garry Moore's reply to my email on the proposed partial sale of Lyttelton Port Company to Hutchison port Holdings.



Dear Trevor

Thank you for the references.
Firstly, it should be made clear that there is no proposal "to sell the Lyttelton Port Company to a subsidiary of Hutchison-Whampoa" - or to anyone else.

Christchurch City Holdings Ltd has made a takeover bid to buy the shares it does not already own in the Lyttelton Port Company Ltd. If this succeeds, Christchurch City Holdings will own 100% of the Lyttelton Port Company and delist the company. CCHL will then sell a minority share (49.9%) to Hutchison Port Holdings Limited CCHL (ie the City) will retain control of the Port Company with a clear voting majority of
50.1%. Hutchison Port Holdings would operate the Port under a landlord/operator agreement.

Allegations of Hutchison Whampoa supposed links with the Government of China surface from time to.time. They result from US domestic politics that arose around the time of the handover of the Panama Canal to the Government of Panama. The allegations were investigated by the United States Department of Defence and found to be groundless.

The result of the investigation was provided to the Senate Armed Services Committee by way of a statement on 22 October 1999 and no doubt the readers of your blog would be interested in the link.

Kind regards

Garry Moore

Mayor Christchurch City Council