SYDNEY : New Zealand Rugby has called a special general meeting in Auckland on June 2 to allow member unions to vote on a private equity investment from U.S. firm Silver Lake, the last step in the approval process for the groundbreaking deal.
The 26 provincial unions will receive less cash compared to Silver Lake's previous offer of NZ$387.5 million for a 12.5 per cent stake a year ago, which was rejected by the players union. The vote was originally scheduled to take place at last month's annual general meeting but the provincial unions requested more time to study the detail of the new deal.
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