Precinct Properties New Zealand, which raised $174.1 million in March to help fund major developments, sold another property in Wellington’s central business district, while saying its latest valuation has bumped up the worth of its broader portfolio. The Auckland-based company agreed to sell its 171 Featherston St building to an undisclosed party for $76 million, which is in line with its latest …

Fonterra Cooperative Group had twice as many farms offer to supply milk for a guaranteed price for the upcoming season than last season amid uncertainty about when global milk prices will recover. A total of 45.2 million kilograms of milk solids was offered by 443 farms, exceeding the 40 million kgMS available under the guaranteed price, the Auckland-based milk processor said in a …

Independent Liquor (NZ), the liquor company owned by Japan’s Asahi Group, wrote off its remaining goodwill, partly offsetting gains from a multi-million dollar settlement with the former private equity owners over the price paid for the booze empire. The Papakura-based company founded by the late Michael Erceg reported a loss of $52.6 million in calendar 2014 compared with a loss of $41.6 million …