Infrastructure investor Infratil and the New Zealand Superannuation Fund have taken cornerstone stakes in retirement village operator and developer Metlifecare, announcing purchases equivalent to 36.9 percent of the company and taking their joint holdings to 39.8 percent. Infratil took the larger stake, 19.9 percent, while the Super Fund topped up its existing holding by a further 17 percent to 19.9 …

Kirkcaldie & Stains, Wellington’s upscale department store, has abandoned plans to split its retail and property businesses and reported a widening of its annual pre-tax loss. The Wellington-based company’s pre-tax loss more than doubled to $2.38 million in the 12 months ended Aug. 31 from $1.08 million a year earlier, it said in a statement. Still, the company posted a …

Hellaby Holdings, the conglomerate with interests ranging from footwear to oil and gas services, is still hungry for acquisitions after making two new investments this year, and sees future earnings growth in its rejigged portfolio. Chief executive John Williamson told shareholders at today’s annual meeting in Auckland that the company kicked off a reshaping of its investment portfolio in 2013 …