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Article: Tranz Rail to buy up passenger rail stake
- Article from:
- The Press
- Article date:
- April 27, 2004
- Author:
CopyrightCopyright 2004 The Press. Provided by ProQuest LLC. (Hide copyright information)
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Tranz Rail looks set to take back full control of Tranz Scenic,
the long-distance passenger rail business.
The merry-go-round of New Zealand rail ownership is expected to
take yet another turn with the exit of Don Gibson, whose West Coast
Railways business paid $33 million for a share in Tranz Scenic in
2001.
West Coast Rail's interest in Tranz Scenic is understood to have
waned since the death of Gary McDonald, Gibson's business partner.
McDonald died a year ago and it is understood his estate and
Gibson are now keen to get out of the business.
Gibson would not comment last night but it is likely there will be
an announcement within the next couple of weeks.
No-one from Tranz Rail ...