Precinct Properties Sells 20% Stake in New Zealand Properties to PAG

MT Newswires Live

2025/02/04

Precinct Properties Group (NZE:PCT) said PAG will acquire the remaining stake of 20% in 40 and 44 Bowen Street in Wellington, New Zealand for a total purchase price of NZ$48 million, according to a Tuesday New Zealand bourse filing.

The company said the purchase price is consistent with the initial purchase of an 80% stake by the Asia-Pacific investment firm in 2022.

The sale is expected to settle in the second quarter, per the filing.

The company's shares were up almost 1% in recent Tuesday trade.

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