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Precinct Sells Half of PwC Tower to PAG for $600 Million, Slashes Gearing
6:41am on Tuesday 16th of June, 2026 AEST
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Real Estate
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Precinct Sells Half of PwC Tower to PAG for $600 Million, Slashes Gearing
6:41am on Tuesday 16th of June, 2026 AEST
Key Points
50% interest in PwC Tower sold to PAG for $600 million
Equity payment deferred 18 months with price linked to swap rates
Precinct retains asset and investment management roles
Proceeds used to reduce bank debt, lowering gearing to 24%
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Precinct Prop NZ Ltd & Invest (NZX:PCT)
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