Continuous Disclosure: MediaWorks CFO jumps ship, Tip Top sale process underway

Ciara McGuigan has resigned from MediaWorks to join TVNZ.

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

New gig for MediaWorks' CFO
MediaWorks' chief financial officer Ciara McGuigan has jumped ship, moving to TVNZ just one month after the TV3 owner inked a A$35m merger deal with ASX-listed QMS Media. The timing of her departure is interesting given recent comments from MediaWorks chief executive Michael Anderson describing the QMS deal as an "exciting opportunity" for the company.
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Tip Top broker drums up interest
The sale process for Tip Top is moving forward with more information due to be released to potential bidders, according to an information memorandum in the market. Investment Bank FNZC has listed six investmnet highlights as it invites expressions of interest from interested parties.
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Saputo interested in Westland Milk
Canada's Suputo, which last year bought Australian co-op Murray Goulburn, is said to be eyeing up Westland Milk. Westland would offer Saputo a stronger foothold in the New Zealand market to take on industry giant Fonterra, according to The Australian newspaper.
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UDC to return investor funds
UDC which remains owned by the ANZ bank after a takeover bid by Chinese company HNA was blocked by the Overseas Investment Office, plans to repay all its secured debenture investments by the end of this year.
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Change at the top for Goodman Fielder
Goodman Fielder New Zealand managing director Tim Deane has resigned.
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Fund managers' tussle over talent
It seems it is not only on the investment front that fund managers are battling it out but also for talent. Key personnel changes are underway at three major investment firms.
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Who could be next on private equity's shopping list?
Cashed up private equity investors were very active buying up New Zealand companies last year and are expected to remain on the hunt this year. There is plenty of talk around the markets on which company could be the next potential target.
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Unloved Z Energy could improve – Craigs
Fuel retailer Z Energy has been out of favour with share market investors in recent times. But one analyst sees upside from recent oil price movements.
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UBS weighs in on proposed RBNZ rules
UBS has added its voice to the growing number of finance firms to oppose the Reserve Bank's proposals for banks to lift their capital ratios.
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Investment banks line up for Napier Port float
Local investment banks are clambering to get a slice of the Napier Port IPO action amid a lengthy lull in new equity offers. Which firms get the nod may come down to local presence given the port's location in a region that boasts plenty of wealthy investors.
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Bitcoinica creditors eye payback
Creditors of New Zealand-registered Bitcoinica LP are another step closer to payback with a decision on acceptance of their claims expected next month.
However, how much the 204 creditors get back and in what form the distribution will be made is still uncertain.
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