Millennium & Copthorne confirms $31 mln deal for Australian subsidiary, gains NZX waiver

Tue, 23 Dec 2014

By Fiona Rotherham Dec. 24 (BusinessDesk) - Millennium & Copthorne Hotels New Zealand, one of New Zealand’s largest hotel operators, has entered into a $31 million conditional agreement with the Singaporean private investment group, Tai Tak Group, to buy the remaining 38.7 percent of shares in KIN Holdings it doesn’t already own. Because the transaction involved a related party and accounted for around 22 per cent of Millennium’s market capitalisation, it required a waiver from NZX Regulation to the exchange’s listing rules that prior ap...

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