Appliance retailer Godfreys Group Ltd. on Feb. 23 said that its subsidiary New Zealand Vacuum Cleaner Co. Ltd. will sell its shares in The Service Company Ltd. to TSC No. 2 Ltd. for NZ$1.3 million.
The deal is expected to close in March but will not materially impact Godfreys' earnings for fiscal year 2018, the release said.
As of Feb. 22, US$1 was equivalent to NZ$1.37.
