The Commerce Commission has granted clearance for international building materials manufacturers & suppliers Gebr Knauf KG of Germany and USG Corp of the US to merge, subject to a divestment undertaking. In January, Knauf also entered into an agreement to acquire the EMEA (Europe, Middle East & Africa) & APAC (Asia-Pacific) businesses of another US […]
Gainz
No capital gains tax – but land speculation & landbanking rules to tighten
The Government canned a capital gains tax yesterday after the coalition parties failed to reach consensus on it, but Prime Minister Jacinda Ardern said the coalition had agreed to tighten rules around land speculation and work on ways to counter landbanking.
James Hardie parent company fails to move Supreme Court on cladding case jurisdiction
Dublin-registered but historically Australian building materials supplier James Hardie Industries plc has failed in an attempt to limit, to local subsidiaries, a court action over defective cladding taken by 5 Metlifecare retirement village companies & individual unit owners.
PMG capital-raising closes fully subscribed
Property Managers Group has closed its $20 million PMG Direct Office Fund capital-raising fully subscribed.
21 Queen St to become Jarden House
First NZ Capital Holdings Ltd (FNZC), which said a month ago it would revert to the name of founder Ron Jarden, has taken naming rights on 21 Queen St, currently called Zurich House.
Precinct spreads debt profile with US placement
Precinct Properties NZ Ltd has borrowed $US110 million ($NZ162.8 million) for 10- & 12-year terms through a US private placement (USPP) issue.
