.
Cromwell Group (ASX:CMW) has bought a 50 per cent stake in New Zealand property and fund manager Oyster Group.
The Australian property and fund management group believes the acquisition will provide a solid platform for its expansion into New Zealand.
Oyster Group has more than $NZD650 million, or about $AUD591 million, of property assets under management.
Cromwell Group will pay $NZD5 million, or about $ AUD4.5 million, for the stake with an extra $NZD2.5 million, or $AUD2.3 million, being payable over the next two years upon achieving targeted financial performance.
The remaining 50 per stake will continue to be held by Oyster Directors.
Cromwell Group reported a net profit of $86.7 million in the first half of the 2014 financial year.
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
49.0¢ |
Change
0.005(1.03%) |
Mkt cap ! $1.283B | |||
| Open | High | Low | Value | Volume |
| 48.5¢ | 49.0¢ | 47.8¢ | $2.513M | 5.177M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 4750 | 48.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 49.0¢ | 264296 | 9 |
View Market Depth
| Last trade - 16.10pm 11/09/2025 (20 minute delay) ? |
| CMW (ASX) Chart |