MCK concludes Quantum deal
The acquisition was part of deal whereby Millennium & Copthorne acquired the remaining 30% interest in Quantum from the Maori Trustee.
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.
Chris Hutching for NBR NZ Property Investor
Fri, 30 Jan 2015
Fri, 30 Jan 2015
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MCK concludes Quantum deal
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