Goodman Property investors approve $186.6M Highbrook deal

Fri, 07 Dec 2012

Dec. 7 (BusinessDesk) – Unitholders of Goodman Property Trust, the second-biggest property investor on the NZX, voted in favour of the acquisition of remaining shares in Auckland’s Highbrook Business Park for $186.6 million in cash and shares. The deal required a vote at an extraordinary meeting because the vendors are both related parties to the trust. Ownership of the 100 hectare property in East Tamaki, which is currently a half-developed business park, is split between Highbrook Development and Highbrook Business Park Ltd, of which the...

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