WELLINGTON Oct 25 New Zealand infrastructure
investor Infratil Ltd said it would buy a 19.9 percent
stake in rest home operator Metlifecare Ltd for
NZ$147.9 million ($123.4 million) as it plans to enter the
Infratil said it had entered into a conditional agreement to
acquire the stake, which would be funded through existing debt.
It added that it expected the deal to be settled on Nov. 28.
"The sector trends are very attractive, and Metlifecare
represents a very good entry point for Infratil," Chief
Executive Marko Bogoievski said in a statement.
Goldman Sachs is sub-underwriting the conditional agreement.
($1 = 1.1988 New Zealand dollars)
(Reporting by Gyles Beckford; Editing by Anthony Barker)