PHOTO: SUPPLIED Metlifecare has come to new takeover deal with Swedish company EQT.
Retirement village operator Metlifecare has come to a takeover agreement with Swedish firm EQT Infrastructure to buy all of its shares for $6 a share.
Metlifecare made the announcement to the NZX late on Friday afternoon.
The takeover had been at risk of collapsing in April after EQT said it was likely to terminate the sale because of the impact of Covid-19 on the retirement village business.
In April EQT Fund Management said Covid-19 had or was likely to reduce the value of Metlifecare by $100 million and its profits by at least 10 per cent in the 2020 and 2021 financial years and in the future.
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