| Australia’s fourth-largest retirement village operator, RetireAustralia, has been bought by Wellington-based infrastructure group Infratil and Kiwi sovereign wealth fund New Zealand Superannuation Fund in a deal that values the company at $640 million.
The sale provides RetireAustralia’s previous owners, Morgan Stanley and JPMorgan, with a long-awaited exit from the vehicle they ended up owning after a recapitalisation deal in 2012. Morgan Stanley and JPMorgan had been planning to list RetireAustralia on the ASX earlier this year but the float fell apart after the company’s investment banking owners failed to agree on pricing with brokers...............................................Full Article: Source
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