Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Healthcare Partners Ready And Waiting to Pay Abano

Healthcare Partners Ready And Waiting to Pay Abano

New Zealand, 20 April 2017: Healthcare Partners Ltd is committed to paying the appropriate share of costs incurred by Abano in its response to Healthcare’s bid for a 50.01% shareholding in the company.

Peter Huston, on behalf of Healthcare Partners, said today that “since the end of the offer process, we have been trying to obtain from Abano a break-down of their costs in the legally appropriate format.

“The truth is that, contrary to what Abano is claiming, it has declined to provide detailed cost information in the appropriate form and detail. It is a reasonable request to be given the detail that we are entitled to so that Healthcare Partners can be satisfied with the costs we are responsible for reimbursing Abano for.

“Last week, we again wrote requesting the information, and indicated that if Abano did not comply, Healthcare Partners would take legal action against its unprecedented action of unilaterally withholding the interim dividend payment part-way through the offer process. They have never provided Healthcare Partners with the detailed information on the make-up of their cost claims.

“Abano’s action is an attempt to slur Healthcare Partners and to avoid dealing with us directly. Given that Abano has refused to work cooperatively with us, the Court is now the best forum to resolve the issue of costs. We are ready and want to pay the appropriate amount. We have been trying to get clarification from Abano but to no avail.

“The feedback and research on our Offer indicated that a full takeover at the price offered would have been preferable to the partial offer. We know that shareholders want to see Abano perform better than it has been doing. We know shareholders were comfortable with the price we offered which was within the Grant Samuel independent price range but they wanted to see us in full control, not partial,” concluded Peter Hutson.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Errors Found: Electricity Authority Dumps Transmission Pricing Modelling

The Electricity Authority is ditching the cost-benefit analysis at the heart of its controversial attempt to find a new way to divide up costs for the national grid after finding an expanding range of serious computational errors in the work by Australian consultancy Oakley Greenwood. More>>


New Record: Migrant Arrivals At 129,500 A Year

Annual net migration has been steadily increasing since 2012. "This was mainly due to the rising number of migrant arrivals to New Zealand," population statistics senior manager Peter Dolan said. "Fewer migrant departures also contributed to the increase in net migration." More>>


Launched: NASA's Super Pressure Balloon Takes Flight From NZ

NASA successfully launched its football-stadium-sized, heavy-lift super pressure balloon (SPB) from Wanaka, New Zealand, at10:50 a.m. Tuesday, April 25 (6:50 p.m. April 24 in U.S. Eastern Time), on a mission designed to run 100 or more days floating at 110,000 feet (33.5 km) about the globe in the southern hemisphere's mid-latitude band. More>>


Trade Agreements: TPP Minus US Starting To Gain Ground

The Japanese government is picking up the pace on reviving the Trans-Pacific Partnership trade and investment deal, with talks scheduled next month among the 11 countries left in the pact after the withdrawal by the US after the election of president Donald Trump. More>>



Prices Up 2.2%: Annual Inflation Highest In Over Five Years

"Rising petrol prices along with the annual rise in cigarette and tobacco tax lifted inflation," prices senior manager Jason Attewell said. "Petrol prices in New Zealand are closely linked to global oil prices, and cigarettes and tobacco taxes rise in the March quarter each year". More>>


Undertaxed? NZ Income Tax Rate Second Lowest Among Developed Nations

New Zealand workers pay the second smallest portion of their income to the government among developed nations and less than half the average ratio of their Organisation for Economic Cooperation and Development peers. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news