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Arvida shares climb 55% on Stonepeak’s $2b offer

UPDATE: Transaction confirms underlying value for publicly traded retirement village and aged care businesses, analyst says.

Arvida chair Anthony Beverley.

Arvida led the NZX higher on Monday, jumping 55.3% to $1.60 after announcing it had entered into an agreement to sell 100% of the business to alternative investment firm Stonepeak at an offer price of $1.70 per share.

The board of the retirement village operator said it had unanimously recommended

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Brent Melville Mon, 22 Jul 2024
Contact the Writer: bmelville@nbr.co.nz
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Arvida shares climb 55% on Stonepeak’s $2b offer
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