First NZ Capital makes case for Summerset, Metlifecare merger

Thu, 05 Oct 2017

By Rebecca Howard Oct. 6 (BusinessDesk) - Merging retirement village operators Summerset Group and Metlifecare would put them on firmer ground in mounting a trans-Tasman expansion as the domestic property market starts to fade, says First NZ Capital in a research note flying a kite for a tie-up. "We raise the question of what a more benign property market might mean for capital appreciation in the medium term and highlight why the upside for investors in both Summerset and Metlifecare from a re-rate in Mergeco could be substantial," said...

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