by Jonathan Underhill
The deal needs approval from Allco's shareholders and holders of Strategic Finance's preference shares, debentures and notes.
Strategic Finance last week suspended redemptions of debentures and notes citing dwindling liquidity.
Redemptions of debentures and notes were halted to protect the integrity of the investments, Finnigan said.
The company had assets of NZ$568 million at June 30, with debentures at NZ$320 million. Strategic's 10.52% perpetual preference shares trade on the NZX debt market.
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