| Decision | Consent granted Section 18A Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 26 April 2023 |
| Pathway(s) | Significant business assets only |
| Investment | Acquisition of up to 9.99% of the units in the Cedar Pacific Student Accommodation Trust (SAT) |
| Asset value | $121,519,711 |
| Applicant | bcIMC URT Trustee Inc. as bare trustee for the bcIMC URT Investment Trust Canada (100.00%) |
| Vendor | Scholar Holdings Pty Ltd (ACN 602 484 113) in its capacity as trustee and Australia Education Holdings B.V Switzerland (50%) Australia (50%) |
| Background | The Applicant was granted consent under the Act to acquire up to 9.99% of the units in the Cedar Pacific Student Accommodation Trust (SAT) which will result in the Applicant increasing its interest from 90.1% to 100%. The Applicant is wholly owned by the British Columbia Investment Management Corporation (BCI), (a corporation and trust company established under the Pension Plans Act (British Columbia)). BCI provides discretionary investment management services to its clients, being British Columbia public sector pension plans, public trusts, special purpose accident and insurance funds and other British Columbia public sector entities. |
| More information | Ashton Goatley Webb Henderson P O Box 105-426 Auckland |
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