Friday 15th December 2000
|Text too small?|
By Jock Anderson
Old faces re-invented themselves, some stepped aside, some got the heave, others wouldn't take no for an answer and Donna Hall bounced back.
Mangonui Ngapuhi Shane Jones took the TOKM helm from the Ngai Tahu elder statesman, who also relinquished his South Island tribal corporate posts.
Clearly miffed but undaunted the wily Sir Tipene retained his seat on the board of New Zealand's biggest fishing company, Sealord, along with another TOKM oustee, international deal wizard Whaimutu Dewes. Sir Tipene stayed on as Sealord chairman following the sale of Brierley Investments' half share in Sealord to TOKM, which already owned the other half share, and Japanese fishing company partner Nissui.
In a dazzlingly entrepreneurial move the drawn-out $207.75 million deal keeps the Sealord fishing quota in the hands of TOKM, while giving junior partner Nissui access to fish under contract.
The government put a temporary hold on its final $13 million payment under the terms of the $170 million settlement signed in 1995. The money was paid over in November, allowing Tainui to pay HSBC $5 million this month with a $9 million balance to be paid by May 31.
TOKM subsidiary Moana Pacific stepped in to sponsor last week's prestigious Maori sports awards in the wake of Tainui financial strife.
No comments yet
MARKET CLOSE: NZ shares dragged lower by SkyCity; Orion, Air NZ rise
Comvita share placement lifts Chinese investor's stake to 9%
NZ dollar falls as ECB comments help lift greenback
Zespri's latest forecast holds profit steady; Gold returns dip
Seeka predicts increased annual profit in 2016, reduces fruit loss
Guy removes Fonterra raw milk access requirements for big exporters
Update: SkyCity boss warns Chinese crackdown on foreign gambling will hurt high-roller revenue
Fonterra farmer directors Malcolm Bailey, Ian Farrelly retire
NZ migration, tourism hits new highs in September, driven by record holidaymakers, migrants
Pumpkin Patch says equity value eroded after unsuccessful talks with bank, stakeholders