Ports of Auckland has appointed investment bank Cameron Partners as its financial adviser for a plan to make a takeover offer for Port of Tauranga's container business.
Ports of Auckland used a press release last month to float the idea of buying Tauranga's container business.
Port of Tauranga questioned the value of the proposal when it released its annual profit later last month, showing a 7 percent rise in profit and 25 percent growth in containers.
Cameron Partners previously advised Ports of Auckland's owner Auckland Regional Holdings (ARH) on a proposed merger with Tauranga which was called off last year, The Press newspaper reported.
Ports of Auckland managing director Jens Madsen said the company was looking at various funding options for purchasing the Tauranga container activities.
He would not say when a formal offer would be made.
Port of Tauranga is majority-owned by Bay of Plenty's regional council.
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