Foreign deal ‘could’ include local investment
A South African-owned company called Calculator Australia has obtained consent to buy the Abacus group of companies.
A South African-owned company called Calculator Australia has obtained consent to buy the Abacus group of companies.
The value of the deal is $87 million, according to information presented to the Overseas Investment Office.
Abacus Storage Fund and Abacus Property Group own or control 0.9ha at 980 Ferry Rd, Christchurch; and 0.6ha at the corner of Portage Rd and Clark St, New Lynn, Auckland.
The majority of the Abacus group is owned by Australian investors.
“The proposed transaction will enable Abacus to review future opportunities for further investment which could include investment in New Zealand,” according to the Overseas Investment Office.
Chris Hutching for NBR NZ Property Investor
Thu, 05 Apr 2012
Thu, 05 Apr 2012
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Foreign deal ‘could’ include local investment
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