Augusta pays 17% premium to double NPT stake as it seeks to oust board

Thu, 06 Apr 2017

By Paul McBeth April 7 (BusinessDesk) - Augusta Capital has paid a 17 percent premium to double its stake in real estate investor NPT, putting more clout behind its bid to replace the board and block a deal giving management control to Kiwi Property Group. Auckland-based Augusta bought about 15.5 million shares at 68 cents apiece from investors including the Accident Compensation Corp and the New Zealand Superannuation Fund, lifting its ownership of NPT to 18.9 percent from 9.3 percent, notices to the NZX show. That was a premium to the...

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