Infratil sells 19% Metlifecare stake for $237.9 million

Thu, 06 Apr 2017

By Paul McBeth April 7 (BusinessDesk) - Infratil has sold its cornerstone stake in Metlifecare for $237.9 million, generating an annual return of 15.5 percent over the three-and-a-half years it held shares of the retirement village operator and developer. Wellington-based Infratil entered into a block trade deal with brokerage Forsyth Barr to sell 42.4 million shares off-market at $5.61 apiece, it said in a notice to the ASX yesterday. Infratil bought into Metlifecare in October 2013 at $3.53, investing alongside the New Zealand Superann...

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