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Post by Kiwi Frontline on Dec 17, 2019 2:44:23 GMT 12
NGĀTI AWA PAID $9 MILLION FOR WHITE ISLAND TOURS, NOW IT'S WORTH 'CLOSE TO ZERO'Ngāti Awa paid $9 million to buy White Island Tours in 2017 in a bid to expand its asset base, and develop employment for Iwi members. That investment now looks to be severely impaired as there is doubt tourist trips to Whakaari/White Island will ever happen again following an eruption on the volcano which is now confirmed to have killed 14 people. Business valuations expert Bruce Sheppard estimates the value of the tour company's exclusive licence to land vessels on the island to be zero, and the tour company's total value to to be around the value of its assets...... www.stuff.co.nz/business/118152806/ngti-awa-paid-9-million-for-white-island-tours-now-its-worth-close-to-zero
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