"Shares of Heatland New Zealand are in a trading halt as Quadrant Private Equity looks to
double its stake in the bank formed from the merger of Marac Finance with Southern Cross and Canterbury building societies."
"The Australian private equity firm, via brokerage First NZ Capital, has put in a block order to buy 9 percent of the Christchurch-based lender, which will double its holding to 17.75 percent, Heartland said in a statement to the stock exchange. The move comes a month after Quadrant first took an 8.75 percent stake in the bank, buying 41.1 million shares at $1.27 a piece, or $52.2 million, substantial shareholder notices show."
http://www.scoop.co.nz/stories/BU150...bles-stake.htm