Continuous Disclosure: Tip Top sale problematic, and sun setting on Sky TV

Fonterra CFO Marc Rivers, Chairman John Monaghan and CEO Miles Hurrell face the media after announcing an annual net loss of $196 million earlier this year. Photo / File

Continuous Disclosure is a market news column, including analysis and opinion. Edited by Duncan Bridgeman, Tamsyn Parker and Jamie Gray.

Tip Top sale problematic
Bids close on Monday for Fonterra's Tip Top ice cream business but the sale process has been anything but smooth, according to sources close to the company.
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Is Sky TV heading for the sunset?
"It really is a difficult equation for Sky TV as to what they do from here," says one influential fund manager.
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McCashin's pulls out of Veritas deal
McCashin's Brewery won't take a cornerstone stake in food and beverage investor Veritas Investments, backing out of an option to buy a near-20 per cent stake at a hefty premium.
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Mobi2Go raises $5m
Wellington-based Mobi2Go, which specialises in online ordering solutions for the hospitality sector, has raised $5 million from a funding round led by New Zealand technology venture capital specialist, Movac.
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Another Hrdlicka share sale looms
A2 Milk chief executive Jayne Hrdlicka caused a stir on the sharemarket last year with the sale of her shares in the company and it's looking likely that there will another sale in August.
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RBD's Mexican bidder praises OIO process
Mexico's Finaccess Capital has received Overseas Investment Office (OIO) approval for its 75 per cent takeover bid for Restaurant Brands, removing a key obstacle ahead of the offer closing on March 9.
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ASX appoints first man on the ground
A Kiwi returning home will the first man on the ground at a new Auckland office being opened by the ASX.
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Blackstone seeks buyer for Burger King franchise
American private equity firm Blackstone is on the hunt for a buyer to take over the Burger King New Zealand franchise. Deutsche Craigs has been hired to run an auction for the fast food business.
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Reporting season winners and losers
The listed company reporting season is nearly finished and already some have declared the early winners and losers. Which companies knocked it out of the park and which flopped?
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Could BNZ boss be next NAB chief?
Bank of New Zealand chief executive Angela Mentis is being touted as a possible contender for the top job at its parent National Australia Bank.
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Big companies wean off bank debt
Higher interest rates and more cautious banks are driving New Zealand's biggest listed companies to look elsewhere for funding. A new report finds just seven of the top 25 listed companies on the NZX are entirely reliant on bank funding.
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Vodafone a value stock, Paris says
Vodafone NZ might be poised to fill a Xero-size whole in the NZX, but it will be a very different type of stock, despite the pair both being in the technology business. Chief executive Jason Paris opens up about the planned IPO.
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Xero to make hay from law change
ASX-listed Xero is poised to make hay from a law change across the Tasman, that will require some 700,000 small businesses to adopt a single-touch payroll solution by the start of the country's new tax year on July 1. The change has analysts sharpening their pencils.
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AA ditches Kiwi bank
The Automobile Association has entered into a third joint venture with Australian insurance giant Suncorp, ditching Heartland Bank in the process.
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SkyCity's debt blow-out warning
Global ratings agency Standard and Poor's has warned SkyCity Entertainment Group's credit rating could come under pressure if its debt ratios blow out.
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Fonterra takes back Darnum
Fonterra has officially unwound its joint venture with Chinese company Beingmate, taking back full ownership of the Darnum manufacturing plant in Australia. While the exact terms of the separation haven't been revealed, a Fonterra spokeswoman says the deal had been structured to ensure no cash was paid by the Kiwi co-operative to Beingmate.
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Rich-lister's buying spree
A joint venture between a company owned by rich-lister Ben Gough and UK global asset manager LJ Partnership has snapped up a stake in a second fund management firm.
Alvarium (NZ) Wealth Management has bought 51 per cent of responsible investment fund manager Pathfinder Asset Management for an undisclosed price.
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Chinese firm throws more money at Airwork
China's Zhejiang Rifa has injected more equity into Auckland-based Airwork Holdings just one year after fully acquiring the business. The issue was flagged in Airwork's audit report. Rifa made a full takeover for Airwork in September 2017.
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Banks hired to run Napier Port IPO
Hawke's Bay Regional Council has hired two investment banks to run the planned partial privatisation of Napier Port. The local body has also hired corporate advisory firm Flagstaff Partners to advise on the process.
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Boutique fund buys into in Yellow
The emergence of a new Yellow shareholder comes a month after the Kiwi company announced a much-improved financial position following years of red ink after the arrival of Google rocked the business model for directories.
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