Infratil and New Zealand Superannuation Fund Set to Buy RetireAustralia
New Zealand Superannuation Fund (NZSF) and Infratil Limited, through a 50:50 jointly-owned consortium, are acquiring a 100% interest in Brisbane-based RetireAustralia, the largest privately-held pure-play operator of retirement living in Australia. NZSF and Infratil will each own 50% of RetireAustralia. The deal is expected to close December 31, 2014. The transaction value is A$ 640.2 million (US$ 520 million). Total cash equity to purchase RetireAustralia is A$ 429.5 million. The rest of the deal is being funded by existing bank debt on RetireAustralia’s balance sheet.
Great Deal for JP Morgan
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