Salt Funds sours further on NPT's Kiwi Property deal

Tue, 04 Apr 2017

By Paul McBeth April 4 (BusinessDesk) - Salt Funds Management is even darker on property investor NPT's proposed tie-up with the much larger Kiwi Property Group, releasing a second salvo that labels the deal an "unacceptable transfer of value". NPT shareholders will this month vote on a deal to buy two buildings from Kiwi Property for $230 million, raising $93.9 million to partially fund the deal and issuing shares giving Kiwi Property a 19.99 percent stake. The larger property investor would also buy NPT's management contract for $6 mil...

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