Toll to be 100% Aussie owned.

Well NZ Rail, come Tranz Rail, come Toll NZ will finally disappear off the NZ Stock exchange.

Toll purchased 10% of the shares from a New York based fund and can now undertake a compulsory takeover of the remaining 6% of shares in the company for $3 per share.

Toll originally tried to gain compulsory acquisition when it took over at $1.10 per share and has withheld dividend payments over the last 2 years.

The parent company Toll Holdings in Australia has indicated it may duel list its shares from Aussie on the NZX.

It is another lose to the New Zealand Stock exchange who appear to be having more delistings than listings this year. It is also a loss to New Zealand as yet another huge company will see its dividends sent off-shore.

Toll is the operator of the largest rail, road and ferry business in NZ.