Commonwealth Bank wants $70.6 mln to cede management of Kiwi Income

Sun, 10 Nov 2013

Nov. 11 (BusinessDesk) – Commonwealth Bank of Australia has agreed to cede management control of Kiwi Income Property Trust for about $70.6 million in a deal the manager’s independent directors say will lift earnings and result in annual savings of about $8 million. The transaction is subject to approval by unit holders at a special meeting on Dec. 12, the trust said in a statement. CBA first flagged the proposal in July and the independent directors of management company Kiwi Income Properties hired First NZ Capital, Russell McVeagh and KPMG...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets market close
NZ sharemarket rebounds with Wall Street rally
Dan Brunskill | Mon, 27 Jun 2022

US markets rallied on Friday night as traders began thinking an economic slowdown would stop the US Federal Reserve from hiking interest rates.

Political donations over $5k to require declaration
Staff reporters | Mon, 27 Jun 2022

The changes require disclosure of donor identities for any party donations over $5,000 versus the current $15,000. 

Law & Regulation
Public class action fund needed: Law Com
Victoria Young | Mon, 27 Jun 2022

The Law Commission has finalised its report into class actions and litigation funding.

Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.

High water marks: Watercare raises the tide on sustainability

The No.1 barrier to decarbonisation for NZ organisations is accurate measurement, says Microsoft’s Accelerating the Journey to Net Zero report.