Kiwi Property to buy 50% of Tainui's The Base mall for $192.5M, offers $197.5M for the rest

Thu, 07 Apr 2016

By Jonathan Underhill April 8 (BusinessDesk) - Kiwi Property Group, New Zealand's biggest listed property investor by market value, has agreed to buy 50 percent of Hamilton's The Base shopping centre from Tainui Group Holdings for $192.5 million and offered $197.5 million for the balance. The cash and shares proposal values the shopping mall at Te Rapa at $390 million. Waikato-Tainui will consider the offer for the remaining half share in coming weeks, Kiwi Property said in a statement. The purchase of the initial 50 percent stake include...

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