MCK concludes Quantum deal
NZX-listed Millennium & Copthorne Hotels [NZX: MCK] received confirmation of its Overseas Investment Office application to buy Te Maori Lodges for $14.25 million. Te Maori Lodges is a subsidiary of the Maori Trustee.
The acquisition was part of deal whereby Millennium & Copthorne acquired the remaining 30% interest in Quantum from the Maori Trustee.
Quantum is the main operating subsidiary of Millennium & Copthorne and owns or leases seven hotels.
Including Millennium Hotel Queenstown, Copthorne Hotel Rotorua and Kingsgate Hotel Dunedin.