APN would sell 60% of NZ unit, raising A$308.6 mln, note offer document shows

Wed, 03 Sep 2014

By Paul McBeth Sept. 4 (BusinessDesk) - APN News & Media, the publisher of the New Zealand Herald newspaper and owner of The Radio Network, would sell 60 percent of its New Zealand business, generating gross proceeds of A$308.6 million, according to an offer document for the sale of notes. The document for the sale of US$250 million of senior unsecured shows Sydney-based APN is considering selling down its stake in APN New Zealand, which consists of its New Zealand newspapers, radio, and GrabOne businesses, in an initial public offer on...

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