Takeover of Mike Pero Mortgages complete

The takeover offer for Mike Pero Mortgages Ltd is now unconditional.

The $1.10 a share takeover offer was launched in June by MPMH Ltd, a joint venture between mortgage broking and finance company New Zealand Finance Holdings (NZF) and Australian lender Liberty Financial.

At the time NZF had 74.7 per cent of Mike Pero and Liberty had 19.9 per cent. The remaining 5.6 per cent of shares were in the hands of a few hundred investors.

Today NZF said the takeover offer was unconditional . MPMH would now compulsorily acquire all of the remaining shares in Mike Pero Mortgages not bought through the takeover offer.

- NZPA