Christchurch City Council-owned business City Care is up for sale.
Valued at $136 million, the construction, roading and parks maintenance business is the first council-owned company to be put up for sale.
The council has already signalled its intention to sell assets, excluding the airport, port and lines company Orion, as a way to meet a shortfall in its budget to repair earthquake-damaged infrastructure.
City Care is up for sale in its entirety.
It employs more than 1500 workers nationwide and is the largest council-owned company of its type in New Zealand.
A council spokesperson said they hoped to have the sale completed within the next six months, and they were not considering selling any further assets at this stage.
