Business
Infrastructure
FNZC trims Infratil's target price on $3.4B Vodafone deal
By Rebecca Howard May 15 (BusinessDesk) - First NZ Capital has lowered its target price for Infratil shares after the infrastructure investor flagged plans to make a $1.03 billion investment in Vodafone New Zealand. Multinational telco Vodafone Group has agreed to sell its...
Markets
Paul McBeth: COMMENT: Do regulators need yet another hurry up on disclosure rules?
By Jenny Ruth May 15 (BusinessDesk) - Disclosure lies at the heart of New Zealand’s corporate regulatory systems but the regulators themselves have greatly undermined that principle more than once. The beauty of enforced disclosure is that it’s nice and cheap, and a strong...
Property
Goodman Property profit jumps 64.7% on valuation and development gains
By Jenny Ruth May 15 (BusinessDesk) - Goodman Property Trust lifted annual statutory net profit 64.7 percent, boosted by big valuation gains and as its manager sold assets and developed new ones to create a pure Auckland industrial property portfolio. Net profit attributabl...
Infrastructure
Fulton Hogan seeks buyer for Australian civil construction unit
By Paul McBeth May 15 (BusinessDesk) - Fulton Hogan is looking to sell its Australian civil construction unit which has been a drag on earnings for the past 18 months. The privately-held company has hired Macquarie Investment Bank to run a sale process with a view to flogg...
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