Kiwi Property to buy 50% of The Base from Tainui as tribe turns down offer to buy entire property

Sun, 15 May 2016

By Jonathan Underhill May 16 (BusinessDesk) - Kiwi Property will buy 50 percent of The Base after Waikato-Tainui turned down the property investor's proposal to buy all of the shopping centre at Te Rapa, Hamilton. When the proposal was announced in April, Kiwi said Tainui would consider selling its remaining stake but has chosen to retain its interest. Kiwi will pay $192.5 million in cash and stock for a half share in the shopping complex which comes with about 6.7 hectares of vacant land suitable for development. The deal is to settle on...

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