Australia's Kirwood Capital gets seat at Harmoney board

Paul McBeth
Mon, 04 Nov 2019

Boutique Australian private equity firm Kirwood Capital will play a hands-on role at Harmoney Corp after paying $15 million for a 13.4 percent stake in the peer-to-peer lender and getting a seat on the board. Harmoney last week raised $25 million of new equity from Kirwood and New Zealand investor Michael Lookman, whose interests took a 9 percent stake. The fintech firm had been hustling for fresh capital for several months, but found it harder this time due to a protracted dispute with New Zealand's Commerce Commission as to whether it wa...
Coronavirus
Southern Cross Travel to shed 45 jobs
Brent Melville | Tue, 02 Jun 2020

Southern Cross Travel Insurance plans to cut half of its remaining workforce in the wake of limited travel under covid-19 restrictions, although the rest of the group remains unscathed. The company...

Markets
MARKET CLOSE: NZ shares soar as investors get FOMO
Dan Brunskill | Tue, 02 Jun 2020

New Zealand shares rose as investors found confidence in the Prime Minister bringing forward a decision about the move to alert level 1. Tourism Holdings and Gentrack led the market higher with double...

Property
Metlifecare seeks shareholder support for action against ex-suitor, EQT
Paul McBeth | Tue, 02 Jun 2020

Metlifecare will seek shareholder support to pursue litigation against its former suitor after the High Court rejected an application that would have preserved a shareholder vote on the teetering $1.5...

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Telcos in lockdown, and beyond

Geoff Thorn, CEO, NZ Telecommunications Forum says modern connectivity was a major benefit during lockdown, so it’s important to ensure long term sustainability of the networks