Investore Property Limited (NZSE:IPL) signed an agreement to acquire three Bunnings properties in Rotorua, Hamilton and Palmerston North from Stride Stapled Group (NZSE:SPG) for NZD 78.5 million on November 13, 2017. The transaction is subject to approval of shareholders of Investore Property Limited. The Board of Investore Property Limited has advised that it will recommend that the shareholders approve the transaction. As on February 8, 2018, shareholders of Investore Property Limited has approved the transaction and now the transaction became unconditional. As on February 8, 2018, all conditions to settlement of the transaction have been satisfied. The transaction is expected to close on February 28, 2018. Northington Partners acted as independent appraiser. Jones Lang Lasalle provided independent valuations.

Investore Property Limited (NZSE:IPL) completed the acquisition of three Bunnings properties in Rotorua, Hamilton and Palmerston North from Stride Stapled Group (NZSE:SPG) on February 28, 2018.