Brief: Precinct Properties New Zealand Says To Internalise Management Of Co

Precinct Properties New Zealand

29/03/2021 01:41

March 29 (Reuters) - Precinct Properties New Zealand Ltd
 PCT.NZ :
    * PRECINCT PROPERTIES NEW ZEALAND- REACHED DEAL WITH AMP
HAUMI
MANAGEMENT TO TERMINATE MANAGEMENT SERVICES DEAL & INTERNALISE
MANAGEMENT OF CO
    * PRECINCT PROPERTIES NEW ZEALAND LTD - PRECINCT WILL RETAIN
KEY
MANAGEMENT PERSONNEL
    * PRECINCT PROPERTIES NEW ZEALAND -TRANSACTION SEES TO
PROVIDE
COST SAVINGS OF NZ$14.6 MILLION PA AND BE 6.0% ACCRETIVE TO
AFFO/SHARE ON A PRO FORMA BASIS
    * PRECINCT PROPERTIES NEW ZEALAND LTD -  KEY TERMS OF
TRANSACTION
INCLUDE GROSS PAYMENT FROM PRECINCT TO AHML OF $215M
    * PRECINCT PROPERTIES NEW ZEALAND-UNDER TRANSACTION NET COST
TO
PRECINCT IS EXPECTED TO BE NZ$145 MILLION
    * PRECINCT PROPERTIES NEW ZEALAND-TERMINATION PAYMENT WILL
BE
FUNDED THROUGH NEW $250 MILLION 5-YEAR BANK FACILITY
    * PRECINCT PROPERTIES NEW ZEALAND LTD - ALL FIGURES IN NZ$

Source text for Eikon:  ID:nNZStFfa 
Further company coverage:  PCT.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))