Allco HIT will receive $25 million in cash and a tranche of its own, largely worthless, shares for the sale of Strategic Finance in New Zealand to its former owners and management.The notice of special meeting of shareholders in Allco HIT, published on Friday, shows that Allco will also assign $52 million in co-investment loans to Strategic.Allco HIT paid $274 million for Strategic Finance, buying a half share in 2006 and taking control a year later.Lonergan Edwards, in an expert's report in the notice of meeting, value Allco HIT's 100 per cent stake at between zero and NZ$25 million (the stated net assets).In common with many other finance firms in New Zealand, investors have spurned Strategic's debentures. The firm proposes a restructure that will defer payments to debt investors and that will bring BOS International, the institutional lending arm of HBOS in Australia, in as a minority investor.BOSI currently provides NZ$100 million in short-term debt to Strategic and it will provide three-year debt (the amount is not clear) as part of the restructure.The notice of meeting discloses that Allco HIT is developing a new business model and plans to change its name.Of other investments of the firm, AllCommercial, a leasing business, is under review with a view to a sale.The firm has already sold its interest in the trust that funds AgriPay, a lender to investors in tax-effective investments in forestry and horticulture, while International Mezzanine Funds Management is in run off.