Kiwi Wealth sale could be 'embarrassment of epic proportions'

Kiwi Wealth sale could be 'embarrassment of epic proportions'
Associate professor Martien Lubberink says debt means trouble. (Image: Victoria University)
Jenny Ruth
Fisher Funds Management's debt financing of the $310 million purchase of Kiwi Wealth should be raising alarm bells for the government.That’s according to Victoria University associate professor Martien Lubberink, who said the sale “could potentially be an embarrassment of epic proportions” to the government. The Kiwi Wealth sale is still awaiting approval from the Overseas Investment Office because Fisher Funds is 34%-owned by US private equity firm, TA Associates. The Toi Foundation, formerly the TSB Community Trust,...

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