Brief: Bethunes Investments says reverse listing transaction with NZ Retail Property Group

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08/03/2017 19:30

March 9 (Reuters) - Bethunes Investments Ltd  BIL.NZ  
    * Reverse listing transaction with Nz Retail Property Group 
    * Signed a non-binding conditional term sheet with westgate 
power centre limited (westgate) and nz retail property group 
    * Initial indicative and non-binding estimates for 
transaction is shares in NZRPG are estimated at approximately 
$400 million 
    * All figures are in NZ$ 
    * Transaction will involve all of bil's assets (except NZX 
bond of nz$ 75,000 and $25,000 in cash) being transferred into 
BIL's unit 
    * Business of NZRPG will  reverse listed into resulting 
shell of BIL through BIL issuing shares to Westgate in exchange 
for all of shares in NZRPG 
 
Source text for Eikon:  ID:nNZW6jyvWm  
Further company coverage:  BIL.NZ  
 
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