Proposed Sale of Eastland Network - Community Engagement Hui @ Hicks Bay

12oct10:30 am12:00 pmProposed Sale of Eastland Network - Community Engagement Hui @ Hicks Bay

Event Details

Eastland Group and its sole shareholder Trust Tairāwhiti have today advised the proposed sale of Eastland Network has progressed into the due diligence stage.
After receiving a number of non-binding indicative proposals in September, the board of Eastland Group and Trustees reviewed each against set criteria including asset value, purchase conditions, operational takeover, investment history, environmental compliance track record and alignment to our wellbeing framework He Rangitapu He Tohu Ora (broader criteria is available to view in the FAQs). 
The due diligence process involves potential buyers and Eastland Group sharing more detailed information to allow both parties a deeper dive before final bids are put forward.
Given this is a commercial process, no further details can be provided at this stage. The Trust and Eastland Group anticipate making a final decision towards the end of the year and will continue to give regular updates.  
In June Eastland Group and the Trust announced a plan to unlock value from the successful growth of Eastland Group to underpin future investment in the region’s energy transformation and support community wellbeing.
For further information on the proposed sale, and the protections in place for the power supply to the communities of Tairāwhiti, please visit the Proposed Eastland Network sale. Beneficiaries are also invited to provide feedback: https://trusttairawhiti.nz/network-sale/

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Time

(Wednesday) 10:30 am - 12:00 pm

Location

Te Puna Manaaki o Ruataupare

141 Onepoto Road Onepoto, Wharekahika

Organizer

Trust Tairāwhiti

We are the regional development trust for Te Tairāwhiti – formerly known as ECT (Eastland Community Trust). https://trusttairawhiti.nz/who-are-we/Ph: 06 867 2640

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