Arvida Group Limited (Arvida) advises that initial orders have been received from the High Court for the scheme of arrangement with Stonepeak Alps Bidco Limited.
The scheme booklet, which includes the recommendation by Arvida’s directors, the notice of meeting and the Independent Adviser’s report will be released later today.
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"We’ve continued to lag relative to other markets," analyst says.
Executive chair Keith Jackson says the firm is not concerned.
New Zealand shares ended firmer after Infratil and Spark posted gains.
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