Kirk’s bidder misses second deadline

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

Relevant offers

Industries

We won't own cars any more - we'll share them, forecasts Toyota NZ boss Pound falls to 30-year low against US dollar amid anti-global sentiment Maersk shipping line changes NZ route Revamped Smith's City pushes into profitable Auckland International hotel Sofitel Wellington fights $350k development fee - and succeeds Taranaki engineers need to 'get creative' to survive Fiat Chrysler accused of concealing defect in Jeep Grand Cherokee Countdown harnessing the skills of older workers Duncan Garner: Tax the tourist tsunami and give us citizens a break APN settles New Zealand tax dispute with Inland Revenue

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