Sharechat Logo

Richina conditionally sells building


Wednesday 21st August 2002

Text too small?
Richina Pacific said today it had conditionally sold its 25-level Wellington office and car park tower, Mobil-On-The-Park, for $66 million to Navire Holdings.

The sale is now only conditional on the gaining of Richina Pacific shareholder consent at a meeting to be held on September 2.

The company bought the tower in 1995 when the original developer was unable to meet contractual obligations to another subsidiary, Mainzeal.

Richina received a stock exchange waiver that allowed it not to inform shareholders it was in talks to sell the building. It believed the sale information was commercially sensitive and any publicity might damage the company and its share price.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.