By Chris Hutching
Friday 1st October 2004 |
Text too small? |
In keeping with its earlier growth strategy, ING has chosen to expand by acquiring portfolios of managed funds rather than individual property acquisitions. In June, ING Property Management (the manager of the listed trust) bought the management rights to the Urbus portfolio and it is the most substantial shareholder in Urbus with 8.97%, suggesting that it may be in a strong position to achieve the merger, which would propel the company into the NZX50.
Details about the merger have yet to be revealed and analysts will
be keen to learn about its gearing. The portfolio of the merged entity would be
weighted 75% in Auckland, 12% Wellington, 6% Hamilton and 7% in other
locations. Retail properties would be 36% of the portfolio, commercial office
33% and 31% industrial.
No comments yet
Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes