Takeover target NPT says it has other optionsMURRAY IRWIN NPT's Eastgate shopping centre in Christchurch. Embattled listed property fund NPT has told the source of its takeover offer, Augusta Capital, that other parties are also interested. Earlier this month Augusta, also a listed fund, wrote to the NZX, outlining a way to turn NPT into a $500 million-plus portfolio of low-rise office buildings. Under Augusta's proposal, NPT - which owns a range of industrial, office and retail buildings - would focus on low-rise office buildings only in Auckland. The move "better positions NPT to continue to grow its property portfolio over time into a meaningful listed entity".

Source: Stuff November 07, 2016 01:09 UTC