Ngāti Toa Rangatira & Ministry of Education Settlement

Last week Ngāti Toa Rangatira completed the purchase and lease back of 40 public schools, equating to approximately 144 hectares in the Porirua and Wellington Region worth over $400m from the Ministry of Education.

Armillary Private Capital, with J.P. Morgan and Craigs Investment Partners were joint lead managers and in an exciting first, the funding syndicate included the Bank of New Zealand, ANZ, Westpac New Zealand, Fisher Funds, Booster NZ, and two Māori Trusts.

The transaction involved Armillary’s Joint Managing Director – Leon Grandy, Senior Analyst – Jono Sloan, Analyst – Jai Goradia and Associate Director of Te Rūnanga o Toa Rangatira - Lewis England, who have been involved since the origination of the deal - just over a year ago.

Lee Stone, David McCallum and the legal teams at Dentons Kensington Swan, Chapman Tripp and Russell McVeagh supported the transaction.

Thanks to the Ministry of Education of New Zealand and the scores of people who have worked on this.

But most importantly, congratulations to Te Rūnanga o Toa Rangatira Incorporated on its re-acquisition of whenua within their rohe. A long term, strategic investment and now the largest landlord of the Ministry of Education.

With Te Rūnanga o Toa Rangatira still continuing negotiations with the Ministry of Education to purchase land of a further 28 schools within Te Whanganui a Tara and Te Tauihu, there is still plenty more opportunities for Ngāti Toa Rangatira to secure an even stronger future position.

For more information, find the full article here.