AUSTRALIA - In a 25-year undertaking with developer Plenary Group, Wellington-based investor Morrison and Co is taking a 50 per cent stake in the Melbourne Convention and Exhibition Centre (MCEC).
Under the terms of the agreement the investment was for an unspecified sum, reports New Zealand news agency, Topnews.net.nz, which is the first investment by the Public Infrastructure Partnership Fund, since it was established.
Morrison has said it also has intensions to invest in New Zealand’s proposed National Convention Centre, whose location has yet to be decided.
