Cushings lift holding in Kirkcaldie to 19.55%, just under takeover threshold

Mon, 04 Jun 2012

By Hannah Lynch June 05 (BusinessDesk) - Selwyn and David Cushing have lifted their stake in Kirkcaldie & Stains, the iconic Wellington department store owner, to 19.55 percent. The Cushing family’s investment arm, H&G Ltd., increased its holding in the company from 18.49 percent, paying $2.68 a share, according to a substantial security holder notice to the NZX. Kirkcaldie’s Harbour City Centre building has an August 2011 valuation of $46.5 million, which will increase to $48.7 million when earthquake strengthening is completed, according...

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