Prog. Ent in venture
One of New Zealand’s largest retailers, Progressive Enterprises and Auckland-based investment bank, Southstate Corporate Finance, have announced the formation of a joint venture company to hold a major part of Progressive’s $l9O million property portfolio. Southstate is an affiliate of
Adelaide-based Beneficial Finance Corporation, fully owned by the State Bank of South Australia. The S6BM 50-50 joint venture operation will hold 14 Foodtown supermarkets and associated specialty stores, mainly in the Auckland area, together with two Auckland shopping centres, at Sunnynook and Meadowbank.
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Bibliographic details
Press, 1 August 1989, Page 40
Word Count
87Prog. Ent in venture Press, 1 August 1989, Page 40
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