Salt Funds urges NPT shareholders to reject Kiwi Property offer as "unacceptable transfer of value"

Thu, 30 Mar 2017

By Sophie Boot March 30 (BusinessDesk) - Salt Funds Management has urged NPT shareholders to vote against an offer from Kiwi Property Group that would see Kiwi take over its management contract, sell it two Wellington properties and end up with a cornerstone stake. Next month, shareholders will vote whether to back the deal, which would see Kiwi Property sell the North City Shopping Centre in Porirua and Majestic Centre in downtown Wellington to NPT for cash and shares worth $230 million, with NPT raising $100 million of new equity as wel...

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