Kirk’s bidder misses second deadline

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

Relevant offers

National business

Expedia fees hike fear Making a go of goat's cheese Royal jelly selling at a premium Mitre 10 boss a life-long retailer Community rallies behind prosecuted farmer Farmers revive seasonal lamb tradition Big is getting bigger at Te Akau Risk seen in soaring beef prices Too 'early' to conclude an El Nino summer is coming Bullying top gripe in workplace

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