Government buys back ACC and Super Fund’s Kiwibank stakes

Government buys back ACC and Super Fund’s Kiwibank stakes
Finance minister Grant Robertson says the purchase is win-win. (Image: Getty)
Jenny Ruth
The government has bought back the NZ Superannuation Fund and ACC’s stakes in Kiwibank. with the price valuing the bank’s parent at $2.1 billion, and NZ Post will also cease being a shareholder. The Super Fund owned 25% and ACC owned 22% of Kiwi Group Holdings with New Zealand Post owning the remaining 53%, and the holding company also owns NZ Home Loans.“This is a win-win for the crown, Kiwibank and for New Zealanders,” said finance minister Grant Robertson.“Kiwibank and NZ Home Loans will continue to operate...

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