Augusta's $87 mln sale of Auckland Finance Centre falls through

Thu, 22 Oct 2015

By Paul McBeth Oct. 23 (BusinessDesk) - The buyer of Augusta Capital's Auckland Finance Centre property has abandoned the deal, depriving the listed property investor and fund manager of $87 million from the proposed sale. The Auckland-based company said the due diligence condition of the sale wasn't satisfied and the conditional agreement has now been cancelled. The proceeds were to have been reinvested in Augusta's funds management business, in what the company previously said would provide enough headroom to "to enable the warehousing...

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