Infratil sells stake in Metlifecare for $237.93M

Company News

by Jessica Amir

Infratil Limited (ASX:IFT) has announced it has entered into a block trade agreement to sell its 19.91% stake in Metlifecare Limited for an aggregated consideration of $237.93 million.

The New Zealand based infrastructure investment company is selling its stake in the retirement village and aged care provider, Metlifecare, to investment service company, Forsyth Barr Limited.

Infratil says its investment in Metlifecare resulted in a 15.5% annualised return since it purchased the stake in 2013.

The settlement is due to take on 11 April 2017.

Shares in Infratil Limited (ASX:IFT) last traded steady on 5th April at $2.68

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.