Canadian investor NorthWest International Healthcare Properties Real Estate Investment Trust plans to lift its stake in Vital Healthcare Property Trust to just under a quarter over the coming 12 months. The Vital Healthcare cornerstone shareholder and manager intends to buy up to 15.4 million units, or 5 percent, in the property trust, taking its total interest to 24.99 percent, it …

KiwiRail, the state-owned railway, will close its Coastal Pacific train service between Picton and Christchurch for the winter months to stem losses running at $3 million a year. The tourist train needs to sell 130 seats to breakeven though last winter some services carried just 30, said Deborah Hume, general manager, passenger, in a statement. The losses reflect “a significant …

Emulex Corp, the US computer network provider, will mop up the remaining shares in New Zealand-based, London AIM exchange-listed Endace after crossing the threshold to enforce compulsory acquisition in its fourth extension to the offer. The New York Stock Exchange-listed Emulex has received 99.9 percent of acceptances as at March 28 for some 76 million British pounds, or US$119.8 million, …