Guinness Peat Group, the investment company liquidating its holdings, has agreed to sell 19.9 percent of ASX-listed property developer CIC Australia to Peet Ltd for about $15 million. Peet today announced a cash takeover for all the shares in CIC for 60 Australian cents apiece or A$76 million, it said in a statement to the ASX. CIC has seven active …

Fletcher Building executive Dave Worley has left the country’s biggest listed company after the Crane unit he was responsible for was folded into the parent. The Auckland-based company will disestablish Crane, which has been operating as a separate group since its takeover two years ago, in a bid to better align the construction firm’s units, Fletcher said in a statement. …

New Zealand retail spending on electronic cards fell in March, snapping five months of gains, as Easter trimmed two trading days and kiwis spent less on durable goods and clothing. Retail spending on credit, debit and charge cards fell 0.5 percent, seasonally adjusted, last month, according to Statistics New Zealand. Excluding fuel and vehicles, core retail spending fell 0.8 percent …