Infratil sells stake in Metlifecare Limited to Forsyth Barr Limited
13 April 2017
Buddle Findlay and Baker McKenzie acted for Infratil on its sale of its 19.91% stake in Metlifecare Limited to Forsyth Barr Limited, for $237.93 million. Buddle Findlay engaged Baker McKenzie to advise on the overseas law aspects (Metlifecare Limited is a New Zealand company with its primary listing on NZX and secondary listing on ASX).
The sale price was $5.61 per share. Infratil's investment in Metlifecare Limited resulted in an annualised return of 15.5% since the original acquisition on 25 October 2013.
Infratil invests in infrastructure businesses that provide essential services to individuals and communities. Metlifecare is one of New Zealand's largest retirement village providers. It currently owns and operates 24 retirement villages.