NPT ran a Sale by Tender campaign through Colliers International in Christchurch. The process resulted in three offers being received by the Company. Of these, an offer of $8.25 million was deemed most attractive based on a number of factors, including having the least conditions attached, and that offer has been accepted.
Although the offer is below the current carrying value of $11m, it is the view of the NPT Board that the sale price achieved allows the Company to arrest ongoing losses and to reinvest capital into opportunities which offer better long-term value growth.
The purchaser is a South Island-based private investor.
Ends.
Tony OsborneChief Executive Officer
NPT Limited
T 09 375 9081
E zn.oc1513628239.tpn@1513628239ynot1513628239Bruce Cotterill
Chairman
NPT Limited
T 021 668 881
E oc.ll1513628239irett1513628239oc@ec1513628239urb1513628239
Any media inquiries to be directed to:
Karyn Arkell
Grace PR
T 027 475 3511
NPT Limited published this content on 19 December 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 18 December 2017 20:19:03 UTC.
Original documenthttp://npt.co.nz/latest-news/sale-property-17-print-place-christchurch/
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