NZ's Urbus Properties, ING Property Trust Mull Merger
Wednesday 22 September 2004
New Zealand based property investment concerns Urbus Properties Ltd. (URB.NZ) and ING Property Trust have agreed to pursue a potential merger, the two companies said in a statement late Friday.
By The LandlordThe joint statement said that discussions were progressing and the companies will announce details in coming weeks.
The merger talks comes after Urbus sold the company's management rights to ING in June this year.
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There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.