NZ Super, ACC agree terms to buy 45% of Kiwibank, seek clearance from Reserve Bank

Wed, 14 Sep 2016

By Jonathan Underhill Sept. 15 (BusinessDesk) - The New Zealand Superannuation Fund and Accident Compensation Corp have agreed on commercial terms to acquire 45 percent of Kiwi Group Holdings from NZ Post Group for a price provisionally put at $495 million and have applied to the Reserve Bank for clearance of the deal. NZ Post chief executive Brian Roche said details of the agreement will be released to the market by the time the Reserve Bank has made its decision. The deal would allow the state-owned enterprise to repay debt, pay a sp...

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