NZ Post says ACC, NZ Super Fund claim over Kiwibank sale has no merit

Thu, 23 Aug 2018

By Paul McBeth Aug. 24 (BusinessDesk) - New Zealand Post says a warranty claim by Accident Compensation Corp and the New Zealand Superannuation Fund over their investment in Kiwibank is without merit, but the state-owned entities are in talks to resolve the dispute. The Crown's mail service sold 47 percent of lender Kiwibank to the workplace insurer and pension fund in late 2016 for $494 million. The shareholders are now in dispute, with Stuff reporting yesterday that the Super Fund and ACC claim NZ Post should have disclosed risks aroun...

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