NZ's Metlifecare rejects EQT's notice to terminate $899m buyout deal

New Zealand’s Metlifecare Ltd on Tuesday rejected a notice to terminate a NZ$1.49 billion ($899.66 million) buyout offer from Swedish private equity firm EQT AB and said it plans to go ahead with the deal.

EQT‘s unit, Asia Pacific Village Group Ltd (APVG), earlier this month said it intended to terminate its offer for the retirement village operator, citing impact from the coronavirus pandemic on Metlifecare’s assets and expected earnings.

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