MCK
28/11/2014 16:34
ASSET
PRICE SENSITIVE
REL: 1634 HRS Millennium & Copthorne Hotels New Zealand Limited
ASSET: MCK: MCK: Completion of Quantum Limited share acquisition
Further to its announcement on 10 July, Millennium & Copthorne Hotels New
Zealand Limited (NZX:MCK) advises that it has today settled the acquisition
of the 30% interest in Quantum Limited (Quantum) which MCK does not already
own.
MCK received approval from the Overseas Investment Office on Wednesday and in
line with the terms of the acquisition agreement, the consideration of $14.25
million was paid to Te Maori Lodges Limited (TML), a subsidiary of the Maori
Trustee.
Quantum is the principal operating subsidiary of MCK and owns or leases seven
hotels including Millennium Hotel Queenstown, Copthorne Hotel Rotorua and
Kingsgate Hotel Dunedin.
ENDS
Enquiries:
Millennium & Copthorne Hotels New Zealand Limited
(09) 353 5058
BK Chiu
Managing Director
End CA:00258274 For:MCK Type:ASSET Time:2014-11-28 16:34:24
