NZ’s Metlifecare seeks legal action to enforce $899m deal with EQT unit

Auckland, New Zealand. Photo by Dan Freeman on Unsplash

New Zealand’s Metlifecare has sought legal action again Swedish private equity firm EQT AB, which intends to terminate its NZ$1.49 billion ($899.66 million) offer to acquire the retirement village operator, according to its statement.

Metlifecare, one of New Zealand’s largest retirement village providers, had asked the country’s High Court to order Asia Pacific Village Group Limited (APVG), a unit of EQT, to fulfil its contractual obligations under the Scheme Implementation Agreement (SIA) entered on December 29, 2019.

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