NZF Group agrees to exit Mike Pero Mortgages partnership with Liberty Financial

Wed, 05 Sep 2012

Sept. 5 (BusinessDesk) - NZF Group, the financial services firm at loggerheads with the receivers of its failed lending unit, has agreed to exit its Mike Pero Mortgages joint venture with Australia's Liberty Financial for a yet-to-be-determined price. The Auckland-based firm has agreed to sell its 50 percent stake in MPMH, which owns the Mike Pero Mortgages business and half of Mike Pero Real Estate, to Liberty and will get an independent valuation to set the sale price, it said in a statement. The sale might need shareholder approval depend...

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