Rangatira lifts Magritek stake to ramp up international sales

Mon, 06 Oct 2014

By Paul McBeth Oct. 7 (BusinessDesk) - Rangatira, the Wellington-based investment group, has lifted its stake in Magritek after the magnetic resonance imaging firm met sales targets. The new funds will help boost the firm's global sales. The investment firm lifted its stake in Magritek to 18 percent from 12 percent for an undisclosed sum after the high-tech manufacturer met certain sales milestones, triggering an undertaking made at the time of the original investment. Rangatira chairman David Pilkington signaled the increased stake was...

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