Partners’ Life sale: $1b shared between many

Partners’ Life sale: $1b shared between many
Founder Naomi Ballantyne said a trade-sale easier and preferable option to an initial public offer. (Photo: Partners' Life)
Dan Brunskill
The sale of Partners’ Life to Japanese conglomerate Dai-ichi Life for $1 billion will be a considerable payday for those who have backed the firm over the past 12 years.Not least of these are founder Naomi Ballantyne and other core staff who have earned equity over the years. Their collective stake is pooled in a nominee company which holds 21% of the company, worth $210 million.The bulk of the billion will be handed to investment behemoth Blackstone which owns 52% of Partners’ Life through an investment vehicle called Immortality L...

More Markets

Spark share collapse leads NZ sharemarket down
Markets Market Close

Spark share collapse leads NZ sharemarket down

The S&P/NZX 50 Index closed down 0.99% or 127.78 points.

Tom Raynel 21 Feb 2025
Spark valuation plummets $1 billion as profit crashes
Markets

Spark valuation plummets $1 billion as profit crashes

Spark has reported a 78% fall in net profit to $35 million in the first half of its 2025 financial year and reduced its full-year operating earnings guidance. However, it has maintained its revised full-year dividend guidance.Shares – already down 42% over the past year after two...

Staff reporters 21 Feb 2025
Genesis weathers a tough winter
Markets

Genesis weathers a tough winter

Genesis took a $59m gas hit, but still made $70m profit.

Ian Llewellyn 21 Feb 2025
Sky TV takes a financial hit
Markets

Sky TV takes a financial hit

Sky Network Television reported a net loss after tax of $1.7 million in what it has been described as a “challenging” and “difficult” six months, with the broadcaster's attention focused on moving its customers to a new satellite because of the ailing Optus D2 satellite.The p...

Staff reporters 21 Feb 2025