| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 7 May 2021 |
| Pathway(s) | Significant business assets only |
| Investment | 100% of the common stock shares in General Finance Corporation resulting in the Applicant indirectly acquiring 100% ownership and control of Royalwolf Trading New Zealand Limited |
| Consideration | $143,500,000 |
| Applicant | United Rentals Inc. United States of America (78.4%); United Kingdom (6.1%); Canada (3.3%); Finland (1.6%); France (1.5%); Netherlands (1.4%); Switzerland (0.8%); Singapore (0.8%); Ireland (0.7%); Norway (0.6%); Belgium (0.4%); Various (4%). |
| Vendor | General Finance Corporation United States of America (85.6%); Various (14.4%). |
| Background | The Applicant is the world’s largest equipment rental company providing primarily construction and industrial equipment and is listed on the NYSE and is seeking consent under the Act to acquire 100% of the common stock shares in General Finance which provides mobile storage, liquid containment and modular space solution. By acquiring these shares the Applicant will acquire an indirect 100% interest in Royalwolf Trading New Zealand Limited which is a shipping container specialist operating across New Zealand and Australia. The Applicant considers acquisition of Royalwolf will broaden its existing overseas business from equipment rental to storage solutions. |
| More information | Lance Jones Russell McVeagh (Auckland) PO Box 8 AUCKLAND 1140 |