- Release Date: 27/02/15 14:58
- Summary: ASSET: MCK: MCK: KIN Holdings Ltd completion announcement
- Price Sensitive: No
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MCK 27/02/2015 14:58 ASSET PRICE SENSITIVE REL: 1458 HRS Millennium & Copthorne Hotels New Zealand Limited ASSET: MCK: MCK: KIN Holdings Ltd completion announcement Further to its announcements on 24 December 2014 and 9 February 2015, Millennium & Copthorne Hotels New Zealand Limited (NZX:MCK) advises that it has today completed the acquisition from Tai Tak Holdings Pte Ltd (Tai Tak) of the 38.7% interest in KIN Holdings Limited (KIN Holdings) which MCK does not already own. KIN Holdings is currently the holding company for MCK's Australian operations and assets, which include the residential units at the Zenith Residences in Sydney and a sales office. The purchase price for the acquisition of the shares was NZ$31 million in cash, which is subject to a post completion adjustment relating to Tai Tak's 38.7% share of the adjusted net profit or loss (as applicable) of KIN Holdings in respect of the period from 1 August 2014 to 31 December 2014. ENDS Enquiries: Millennium & Copthorne Hotels New Zealand Limited (09) 353 5058 BK Chiu Managing Director End CA:00261282 For:MCK Type:ASSET Time:2015-02-27 14:58:05
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Ann: ASSET: MCK: MCK: KIN Holdings Ltd completion announcement
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