New Zealand's largest port company Ports of Auckland Ltd said on Thursday the government intended to buy its Westhaven Marina for NZ$52 million ($33 million) and would likely buy the Hobson West Marina.
"The Government bid for Westhaven Marina at NZ$52 million. The Government is expected to confirm the purchase of Hobson West Marina next week," it said in a statement.
Shares in Ports of Auckland, which is majority owned by local funding body Infrastructure Auckland, last traded at NZ$7.45 before being placed on trading halt pending the announcement.
Ports of Auckland handles about two-thirds of all New Zealand imports by value and about one third of exports.