CeresNZ interested in buying Mainzeal from receivers
The Christchurch-based unit of American firm Ceres Environmental Services says it has a "strong interest" in buying Mainzeal Property and Construction.
CeresNZ, the Christchurch-based unit of American firm Ceres Environmental Services, says it has a "strong interest" in buying Mainzeal Property and Construction from the receivers.
The company plans to have preliminary talks with the receivers, betting that the rebuild of Christchurch provides a role for the "highly skilled people within Mainzeal", according to a statement posted on the Scoop website.
Mainzeal, part of Richard Yan's Richina group, was placed in receivership this week after failing to make payments on its credit facilities, having become embroiled in lawsuits related to the leaky buildings saga.
"Strategically, CeresNZ sees this as an extremely positive opportunity for growing the business," company spokesman Bernie de Vere says. Financing for its local projects has been provided by US private equity firm Vesta Equity, owned by David McIntyre.
CeresNZ has been involved in demolition and rebuilding in Christchurch. he parent company was involved in the clean-up after Hurricane Katrina and the earthquake in Haiti, according to its website.
(BusinessDesk)
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
CeresNZ interested in buying Mainzeal from receivers
27175