Goldman exits NZ retirement villages to Metlifecare
Goldman Sachs has exited its majority stake in New Zealand retirement village operator Vision Senior Living to Metlifecare. The acquisition – which includes Private Life Care Holdings as well as Vision – will be financed through Metlifecare issuing new shares worth NZ$113 million ($90 million). A further NZ$10 million will be raised through issuing additional shares to existing Vision shareholders.
Vision is 68% owned by two funds controlled by Goldman, with the remainder held by private shareholders in Arrow International Group. Hauraki Private Equity No.2 Fund, a NZ$75 million vehicle set up by...
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