Splash247: DP World-backed bid for Lyttelton Port rejected

Published by Splash247

Christchurch City Holdings Limited (CCHL) has rejected an unsolicited proposal from a DP World-backed consortium to take a majority interest in a long-term lease of Lyttelton Port’s operating business.

The Tōnui Consortium, comprising DP World, Ngāti Wheke, Ngāi Tūāhuriri and Te Taumutu, submitted the proposal in June.

Under the plan, the consortium would have acquired a majority interest in a long-term lease of Lyttelton Port Company’s operating entity, while the port’s strategic assets remained in public ownership.

CCHL said the proposal did not meet the threshold for continued consideration and was not sufficiently compelling to justify detailed investigation or further consultation with Christchurch City Council.

The council-owned holding company also pointed to the city council’s 2026–27 Letter of Expectation, which does not support leasing the port and encourages the retention of a directly employed workforce.

CCHL said its decision also reflected Lyttelton Port’s improving operational and financial performance, the resilience of its infrastructure and the leadership required to maintain safe and efficient operations.

CCHL chair Bryan Pearson said the company retained full confidence in Lyttelton Port’s board and management and would continue working with the port on its long-term development and investment requirements.

The decision removes DP World’s proposed entry into the operation of New Zealand’s largest South Island port.

Lyttelton Port is separately seeking approval for the proposed Te Awaparahi Bay development, which would add a new container wharf and increase the port’s long-term handling capacity.