18 Dec 2012

NZ Post considering selling corporate offices

7:37 am on 18 December 2012

New Zealand Post is considering selling its corporate offices in Wellington and Auckland to raise money to reinvest in the business.

The State postal operator will get $142 million from selling its stake of 35% in Datacom to the New Zealand Superannuation Fund. The deal will result in a gain of $76.4 million.

Chief executive Brian Roche said it will be used to repay debt and invest in other parts of its business, including Kiwibank.