Commercial

CDL seeks full control of property firm

Listed hotel operator CDL Hotels has moved to tidy up its convoluted company structure through a $21.3 million full takeover offer for its property development subsidiary, Kingsgate International.

Thursday, April 29th 2004

Auckland-based CDL is joining Kingsgate's other significant shareholder, private Singapore investment firm Tai Tak Securities, in a takeover bid.

If the bid is successful, Kingsgate would be delisted from the NZX.

Under the proposal, KIN Holdings, a company owned jointly by CDL and Tai Tak, is offering 32c a share for the 67.7 million shares in Kingsgate - 17.2 per cent of the company - which the two companies do not already own.

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Property investors refocus on cash flow

Unity First Home Buyer special	3.95
SBS FirstHome Combo	4.19
ICBC	4.49
Co-operative Bank - First Home Special	4.55
Kainga Ora	4.59
Unity Special	4.59
BNZ - Std	4.65
Co-operative Bank - Owner Occ	4.65
AIA - Go Home Loans	4.65
ASB Bank	4.65
TSB Special	4.69

ICBC	4.89
China Construction Bank	4.95
Kainga Ora	4.95
Unity Special	5.09
Nelson Building Society	5.09
Westpac Special	5.19
BNZ - Std	5.19
SBS Bank Special	5.19
ASB Bank	5.25
AIA - Go Home Loans	5.25
TSB Special	5.25

Westpac Special	5.59
ICBC	5.65
Kainga Ora	5.69
BNZ - Std	5.79
SBS Bank Special	5.79
Co-operative Bank - Owner Occ	5.89
ASB Bank	5.89
AIA - Go Home Loans	5.89
Kiwibank Special	5.99
TSB Special	5.99
China Construction Bank	5.99

SBS FirstHome Combo	3.29
AIA - Back My Build	3.34
SBS Construction lending for FHB	3.74
CFML 321 Loans	3.95
Co-operative Bank - Owner Occ	4.99
Co-operative Bank - Standard	4.99
Heartland Bank - Online	5.30
ICBC	5.39
Kiwibank - Offset	5.75
Kiwibank Special	5.75
Kiwibank	5.75

Commercial

CDL seeks full control of property firm

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