Government buys back Kiwibank
Nine To Noon
English - August 21, 2022 21:05 - 11 minutes - 10.2 MB - ★★★★★ - 8 ratingsNews Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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The government is buying back Kiwibank to take full ownership. It has just announced the purchase of Kiwi Group, the parent company of Kiwibank, valuing it at $2.1 billion. Until now Kiwi Group Holdings had been owned by NZ Post, ACC and the NZ Super fund. The NZ Superfund had expressed an interest in buying a majority holding in Kiwi Group Hodings but the government's pledge to keep the bank fully locally-owned made that impossible. Kathryn speaks with business commentator, editor and co-founder of BusinessDesk , Pattrick Smellie.