CPE Capital is planning to sell New Zealand transport and shipping company, StraitNZ, in an upcoming auction, according to various news reports.
Macquarie Capital, which acquired a minority stake in StraitNZ in 2018, has been charged with brokering the deal.
StraitNZ operates roll-on/roll-off freight and passenger shipping across the Cook Strait. IREI understands the pending auction comes as CPE capitalizes on healthy buyer interest for its portfolio companies.
In April 2020, Australian Financial Review reported that the pandemic-induced lockdown had taken a toll on StraitNZ, and, as a result, the company was looking to significantly cut costs.
