| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 20 December 2018 |
| Investment | An overseas investment in significant business assets, being the Adamantem Fund 1 entities acquisition of:
the consideration of which exceeds $100m. |
| Consideration | $212,838,300 |
| Applicant | Adamantem Capital Management Pty Limited as manager of the Adamantem Capital Fund 1 Entities Australia (53.9%) United States (25.8%) New Zealand (3.4%) United Kingdom (1.7%) Singapore (10.1%) Luxembourg (5.1%) |
| Vendor | Harakeke Nominees Limited, Lynda Maree Harris and Nicola John Harris Fraser Todd Heller and Kendons Trust Services Fraser Todd Heller Rangatira Limited |
| Background | Adamantem Capital Management Pty Limited is the manager of the Adamantem Capital Fund 1 Entities, a multi entity investment group that typically invests in entities worth between $100 million and $500 million in Australia and New Zealand. The applicant intends to invest in Hellers Limited, a New Zealand based business that specialises in processed meat products. As a result of the investment, one of the vendors, Fraser Todd Heller will re-invest in Hellers Limited along with third party New Zealand entity, FNZC Principal Investments Picasso LP. The Applicant has satisfied the Overseas Investment Office that the individuals who will control the investment have the relevant business experience and acumen and are of good character. The Applicant has also demonstrated financial commitment to the investment. |
| More information | Michael Pollard Simpson Grierson Private Bag 92518 AUCKLAND 1141 |