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BRIEF-Bethunes Investments says reverse listing transaction with NZ Retail Property Group
March 8, 2017 / 7:57 PM / 6 months ago

BRIEF-Bethunes Investments says reverse listing transaction with NZ Retail Property Group

March 9 (Reuters) - Bethunes Investments Ltd

* 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: Further company coverage:

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