NPT expects to wrap up Kiwi Property talks in coming days

Mon, 27 Mar 2017

By Paul McBeth March 27 (BusinessDesk) - Property investors NPT and Kiwi Property Group expect to wrap up talks for a tie-up in the "next few days" with a special meeting of NPT shareholders expected to vote on the deal in April. In December, Auckland-based Kiwi Property put forward its plan to sell the North City Shopping Centre in Porirua and Majestic Centre in downtown Wellington to NPT for cash and shares worth $230 million, with NPT raising $100 million of new equity as well as a $50 million issue to Kiwi Property for a 19.9 percent...

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