http://nzx-prod-s7fsd7f98s.s3-websit...542/292622.pdf
Thought you knew where to look for this sort of stuff
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http://nzx-prod-s7fsd7f98s.s3-websit...542/292622.pdf
Thought you knew where to look for this sort of stuff
that doesnt actually say how much they paid for it winner
700 Mill was the purchase price in 2007 (with a performance fee attached - which I dont know was paid or not)
whats interesting is that Craigs thought it was worth a lot more than the 800m sale price announced today. they suggested 1.2B
it paid 947m but sale is for less than analysts expected
https://www.nzherald.co.nz/business/...ectid=12178661
Just a little note of caution regarding the sale. FBU have said it includes clauses common for a transaction of this type and should settle within the FY19 year.
Common is the use of "force majeure" clauses that are specifically tailored to the circumstances surrounding the deal. Clauses like this have so many variables I couldn't possibly speculate on what they might be but are often tied to a major exogenous shock event such as for example a XX% reduction in XYZ share market index which is interpreted to mean business conditions have changed quite materially.
This sale isn't completed yet by any stretch of the imagination and if the markets really tank the sale might too. Good luck to holders. I remain of the view that this company has a truly appalling long term track record of delivering to shareholders.
Vanguard Group buying into it?
https://www.nzherald.co.nz/business/...ectid=12197920
Good news!
Looks like Milford has finished selling its building & property related stocks so it must be up from here.
Classic Milford - sell their shareholdings quietly and then, shout from the rooftop to let everyone (who are easily impacted) out there know and get spooked to sell as well.
They did that with Diligent and it was an absolutely boomer for those of us who bought off Milford.