Minority investors need stronger protection – NZSA

Grand Millennium Auckland. (Image: NZME)

Fri, 31 Jan 2025

A takeover offer for New Zealand Exchange-listed Millennium & Copthorne Hotels NZ could force minority investors to sell their shares at potentially half their real value, which reinforces the need for stronger protection, the NZ Shareholders Association says. Millennium Copthorne’s majority shareholder, CDL Hotels Holdings NZ, provided notice of a takeover offer of $2.25 per share for the 24.1% it does not already own on Jan 20. CDL Hotel Holdings NZ is a subsidiary of the Singapore Stock Exchange-listed City De...

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