NPT bristles at biggest shareholder's opposition to Kiwi Property deal

Thu, 06 Apr 2017

By Paul McBeth April 6 (BusinessDesk) - NPT has gone on the offensive in trying to undermine opposition to a proposed deal with Kiwi Property Group by its biggest shareholder, Salt Funds Management. NPT shareholders will this month vote on a deal to buy two buildings from Kiwi Property for $230 million, raising $93.9 million to partially fund the deal and issuing shares, giving Kiwi Property a 19.99 percent stake at 61 cents apiece. The larger property investor would also buy NPT's management contract for $6 million. Salt Funds princi...

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