NZ Post proposes to sell down 45% of Kiwibank to NZ Super Fund and ACC

Tue, 05 Apr 2016

By Fiona Rotherham April 6 (BusinessDesk) - New Zealand Post Group has received a $495 million indicative offer from the NZ Superannuation Fund and Accident Compensation Corp to buy 25 percent and 20 percent respectively of subsidiary Kiwi Group Holdings, which owns Kiwibank. The indicative offer, which is subject to a number of conditions including due diligence and board and regulatory approval, values KGH at $1.1 billion though the final price is still to be determined. KGH owns Kiwibank and its associated businesses such as Kiwi...

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