NPT shareholder meeting delayed as it negotiates with Kiwi Property

Thu, 02 Mar 2017

By Sophie Boot March 3 (BusinessDesk) - Negotiations between Kiwi Property Group and NPT over a property deal are progressing constructively but taking longer than expected, with a shareholder meeting now planned for April, NPT says. 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 perc...

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