Australian logistics giant Toll Holdings will make an offer for the 16% of New Zealand rail and ferry subisidary Toll NZ it does not already own.
The group said it will pay NZD 3 ($2.31) per share, valuing the slice at NZD 101m.
US-based Third Avenue Management has 10%, with smaller investors owning the rest.
The deal is worth three times what it paid for the former Tranz Rail in 2003.
Toll
