The Bay of Plenty Regional Council has set guidelines for how it will sell some of its Port of Tauranga shares.
Last year, the council agreed to a managed sell-down of its 54.14% shareholding in the port to a minimum of 28% through its long-term plan process.
At a Thursday meeting, councillors set parameters for how its commercial arm – Quayside Holdings – could sell the shares.
Council chairman Doug Leeder said the sell-down was a “substantive matter” for the council and community.
The council has had its shareholding since 1989 and the issue of managing financial risk by selling shares had been raised before, but councils of the time chose not to.
One reason for the sell-down would be to minimise the risk of holding a portfolio of assets in one entity, Leeder said.