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
NZ terms of trade rise 4.4% in March quarter on cheap imported petrol
NZ Merino inks 5-year, $45M contract with Italy's Reda, supplier to Armani, Gucci
Oceania Natural lifts annual profit but misses guidance
Fronde returns to profit on pretax basis after last year's restructure
Vital Healthcare flags A$84 mln spend to expand Australian portfolio
NZX's SuperLife provides 12-month $1 mln loan to Energy Mad at 15.75% interest
NZ dollar hits week high vs. British pound amid 'Brexit' fears
MARKET CLOSE: NZ shares rise; Fletcher at highest in 2016, Auckland Airport heavily traded
NZ dollar gains on rising business confidence, strong Australian data
New Labour-Greens MoU falls short of coalition