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Encyclopedia > Toll New Zealand

Toll NZ Limited (Tranz Rail Holdings Limited until May 2004) is the parent company of New Zealand's principal railways operator. The company was formed on 7 July 1993 to buy out the SOE New Zealand Rail Limited. The company completed the purchase of New Zealand Rail in September 1993 for $NZ328.3 million. The Government retained ownership of the land on which the sold rail assets were situated - the purchase price included the lease of this land.


New Zealand Rail itself was formed on 10 October 1990 from a separation from New Zealand Railways detailed in the New Zealand Railways Corporation Restructuring Act 1990, which continues to this day as an SOE.


New Zealand Rail Limited, the trading subsidiary, was renamed Tranz Rail Limited in 1995, and Toll NZ Consolidated Limited in May 2004. In 1996, the company listed on the New Zealand Stock Exchange and also on NASDAQ in the United States. In July 2002 it delisted from NASDAQ.


An Australian company, Toll Holdings, is now majority shareholder of Tranz Rail after a successful takeover bid between July and October 2003.

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