| Decision | Consent granted Section 12(1)(b) Overseas Investment Act 2005 Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | The Minister for Land Information and the Associate Minister of Finance |
| Decision Date | 11 April 2022 |
| Pathway(s) | Benefit to New Zealand (Benefit to New Zealand - S&I) and significant business assets |
| Investment | 1 Hudson Road, Warkworth, Auckland 1/39 Northcote Road, Hillcrest, Auckland 2/39 Northcote Road, Hillcrest, Auckland 41 Northcote Road, Hillcrest, Auckland 2020 Great South Road, Bombay, Auckland 159 Golf Road, Galatea, Whakatane 198 Tararua Road, Levin 13 Johns Road, Belfast, Christchurch 38 Hawke Street, New Brighton, Christchurch 120 Fryatt Street, Dunedin Central, Dunedin Pirikaha Road, Mangonui, Far North (Black Banner) 280 Paponga Road, Broadwood, Far North (Paponga) Autawa Road, Tarata, New Plymouth (Autawa) 2775 Mangapoike Road, Whakaka, Wairoa (Te Puna) 368 Kirikau Valley Road, Kirikau, Ruapehu (Kirikau) 1129 Waitawhiti Road, Tinui, Masterton (Pukokino) Pararorangi Road, Waituna West, Manawatu (Momona) Whakatomotomo Road, Pirinoa, South Wairarapa (Pirinoa) 42 Wiffens Road, Kekerengu, Kaikoura (Matiawa) 1550 Avon Valley Road, Waihopai Valley, Marlborough 157 Smith Road, Herekino, Far North (Twin Ridge) 127 Campbell Road, Peria, Far North (Campbell Road) Mangatipona Road, Fordell, Rangitikei (Mangatipona) Mangahoe Road, Hunterville, Rangitikei (Mangahoe) 14637 Route 52, Alfredton, Tararua (Big Pori) 1154b Makakaho Road, Ngamatapouri, South Taranaki (Pinnacles) 188 Wicks Road, Wendon, Riversdale (Wicks Road) 267 Millricks Line, Linton, Palmerston North (Barracks) 1729 Kawautahi Road, Owhango, Ruapehu (Kokaha Adjusted Boundaries) 872 Kohukohu Road, Far North District, Northland |
| Asset Value | Approximately NZ$1.96 billion |
| Applicant | Ampol Limited Australia (99.06%) New Zealand (0.49%) Various (0.45%) |
| Vendor | Z Energy Limited New Zealand (55.43%) Australia (29.49%) United States of America (8.76%) United Kingdom (1.76%) United Arab Emirates (1.29%) Switzerland (1.00%) Various (2.27%) |
| Background | The Applicant is a widely-held ASX-listed petroleum refiner, importer, marketer, and distributor operating in Australia. The Applicant seeks consent under the Act to acquire 100% of the shares of Z Energy Limited (Z Energy) through a Scheme of Arrangement, which will result in the Applicant indirectly acquiring sensitive land owned or leased by Z Energy. Z Energy has an interest in sensitive land that consists of residential land sites (service station, fuel facilities, future development sites, and sites acquired in order to deal with historic contamination issues), a truckstop fuel facility adjoining Otago Harbour, and a minority limited partnership interest in carbon forestry (that may include some farm land). The investment is likely to result in a substantial amount of additional investment focused on the development of future energy initiatives, improving infrastructure, and Z Energy initiatives to expand its retail network and refresh its convenience stores. The investment is also likely to result in the creation of new jobs within the Z Energy business through cadetship and graduate recruitment programmes. The investment is further likely to support government policies regarding climate change and security of fuel supply. Consent was granted to the investment because the benefit likely to occur as a result of the investment was considered substantial and identifiable. |
| More information | Andrew Petersen Bell Gully (Auckland) Level 21, Vero Centre 48 Shortland Street Auckland 1010 |
See the attached documents linked below, which were published in response to an Official Information Act request:
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