Property For Industry management contract worth more than $42M, independent adviser says

Sun, 28 May 2017

By Paul McBeth May 29 (BusinessDesk) - Property For Industry's management contract is worth more than the $42 million the industrial property investor will pay to bring the contract in-house, which should pave the way to higher dividends, says an independent appraisal of the deal. Shareholders will vote on the proposal to buy the contract from PFIM Ltd, which in turn subcontracts it to McDougall Reidy & Co, at their annual meeting on June 22 in Auckland. The deal would see PFI expand its banking facilities to pay the $42 million fee, and...

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