NZSF and ACC Agreed to Key Terms on Kiwi Group Deal
The deal is moving forward. The New Zealand Post has agreed to key terms in which the New Zealand Superannuation Fund (NZSF) and the Accident Compensation Corporation (ACC) will become joint owners of Kiwi Group Holdings (KGH) Limited. NZSF and ACC made an offer in April 2016 to purchase large minority stakes, a combined ownership percentage of 45%, in KGH. Kiwi Group Holdings Limited is the holding company of Kiwibank Limited, Kiwi Wealth Management (formerly GMI), The New Zealand Home Loan Company Limited, Kiwi Insurance Limited and Kiwi Capital Funding Limited.
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