UPDATE: NPT shareholders reject property deal and spill board

Fri, 21 Apr 2017

(updates to add comment from Augusta Capital in sixth paragraph) By Rebecca Howard April 21 (BusinessDesk) - NPT shareholders voted against a property deal between Kiwi Property Group and NPT and voted in favour of board changes. Under the proposed deal, NPT would have purchased 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 at 61 cents apiece. The larger property investor would also buy NPT's management contract for $6...

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