Complectus sale falls through after Australia buyer breaches sale agreement

Thu, 22 Jun 2017

By Paul McBeth June 22 (BusinessDesk) - The sale of New Zealand financial services supervisory business Complectus has fallen through after the Australian buyer didn't meet the agreed settlement date of May 31. The deal was announced on May 18 with Overseas Investment Office approval and trumped a planned $150 million initial public offering. However, Auckland-based Complectus today said the company is still owned by Andrew Barnes' Bath Street Capital after Australia's Sargon Capital didn't meet the terms of the sale and purchase agreeme...

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