Suitors include buyout firms Blackstone and Carlyle, Japanese conglomerate Orix and New Zealand investment firm Infratil, said Basis Point, citing a source familiar with the process.
A number of smaller New Zealand institutions are interested in the company, but are unable to make solo bids, said the source.
Final bids for the business, which is reportedly valued at NZ$900m ($737m), will likely be made in the first quarter of 2014.
Transpacific expects the unit to post earnings of around NZ$110m next year.
Recent deals in new Zealand included Quadrant’s exit from retirement village operator Summerset Group.
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