Goodman Property seeks $80M to help fund Highbrook buy-out

Mon, 12 Nov 2012

Nov. 13 (BusinessDesk) - Goodman Property Trust is seeking $80 million in new equity from institutional and retail shareholders to buy the 50 percent it doesn't already own of the Auckland business park, Highbrook, in a $186.6 million transaction involving cash, trust units and deferred payment elements. GMT shares were unchanged at $1.06 in trading on the NZX this morning following the announcement, which coincided with declaration of an improved first-half profit of $31.6 million, up 9.6 percent on the same period last year. Distributable e...

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