NZ Experience says major shareholder fails to find buyer

New Zealand Experience, operator of the Rainbow's End theme park, said its major 74.86% shareholder has failed to find an acceptable buyer for its stake.

The estate of George Ryerson Gardiner, which holds 27.7 million shares, earlier informed NZ Experience that it wanted a process begun to seek expressions of interest for these shares.

The trustees asked the company's directors to assist and the directors agreed, while continuing to act in the interests of all shareholders.

Today the company said the trust had not found an acceptable purchaser and its shareholding will not be sold for the foreseeable future.

NZPA

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