Sharechat Logo

Westfield gets nod to wrap up St Lukes deal

By Phil Boeyen, ShareChat Business News Editor

Monday 7th August 2000

Text too small?
St Lukes' investors have given the go-ahead to merge with Australian-listed property company, Westfield Trust.

97% of St Lukes shareholders have voted in favour of the move, along with a clear majority of convertible and capital noteholders.

Westfield Trust launched its bid for St Lukes two months ago, with an offer which valued the group at over $700 million.

St Lukes has been a listed company since 1993 and was New Zealand's largest property company, owning most of the main shopping malls. However its share price had been sagging before the Westfield offer.

The purchase bumps Westfield up to a $7 billion dollar company with almost 40 shopping sites on both sides of the Tasman.

Westfield says it has a number of plans afoot for further developing St Lukes' properties throughout New Zealand, as well as building new shopping centres.

St Lukes is due to delist from the NZSE and ASX on August 10th.

NOTE: please be advised to read full articles from Business Desk Website, you will have to pay a subscription fee on their website.



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
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.

Related News:

Pushpay buys Colorado rival for US$87.5m
Xero chair to retire early as family’s health comes first
Business leaders quiz finance minister on capacity to spend $12b
House prices are accelerating again, even in Auckland
13th December 2019 Morning Report
Tourists still coming but growth is slowing
Peters backs StuffME merger bid
Supplements, skincare firm poised for reverse listing
NZX, EEX eye carbon auction opportunity
A2 Milk boss steps down, shares fall 7.7%

IRG See IRG research reports