News Round Up
Tuesday, March 29th 2005, 6:10AM
The Bank of New Zealand is closing its New Zealand Equity Index trust as it has been declining in size and is now at a level where "it hs difficult to manage."Unitholders have been offered a switch to another BNZ fund, withdrawal of their money or the option of staying in the fund until it is closed on June 20.
Urbus & ING due diligence nearing completion
Urbus Properties Limited and ING Property Trust today announced due diligence on the proposed merger between the two entities was nearing completion and that no material issues had arisen during the process.
On February 14 2005 the parties announced agreement in principle for ING Property Trust to make, and the board of Urbus to recommend, a full takeover offer by the Trust for Urbus. The offer will result in the merger of the two entities, creating New Zealand's second largest listed property trust with a market capitalisation of more than $550 million. [MORE]
Ginseng comes to market
Former kiwifruit grower Brian Sage and Money Managers boss Doug Somers-Edgar have finally launched their ginseng investment.
Ginseng New Zealand has planted 60 million ginseng seeds over the past two years and a further 50 million are under treatment for planting this year.
Ginseng NZ is aiming to raise $12 million to fund operations and repay development loans on the venture.
| « Super fund goes alternative | Sovereign takes regulation bull by the horns » |
Special Offers
Commenting is closed
|
|
Printable version |
|
Email to a friend |
