Kirk’s bidder misses second deadline

JASON KRUPP
Last updated 14:05 03/12/2012

Relevant offers

Industries

Record fine for illegal motor sales Auckland Unitary Plan panel starts initial deliberations Worker denounces port safety Online engagement essential to B2B success Port board supports council takeover Mall owner may float or sell Time right for publisher's listing - manager Data startup takes on giants of IT industry Allied Farmers back in black Offshore retailers gain online marketshare

The yet-to-be-named potential buyer of a downtown Wellington retail and office building has missed its second due diligence deadline, according to seller Kirkcaldie & Stains.

The company, which operates the iconic Wellington department store and a property company which manages its real estate assets, announced in late October it had entered into a conditional agreement to sell its Harbour City Centre.

The deal was contingent on the bidder completing the due diligence process by mid-November, which was extended until the end of last week.

In statement filed with the NZX today, Kirkcaldie announced that deadline had come and gone without receiving confirmation that this condition has been satisfied, but stressed the conditional contract remains in place.

No further details on the deal, its value or who the bidder is were disclosed due to mutual obligations of confidentiality between the parties.

Ad Feedback

- BusinessDay.co.nz

Comments

Special offers

Featured Promotions

Sponsored Content