| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 6 December 2018 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 100% of the shares of Ixom HoldCo Pty Ltd, the consideration of which exceeds $100m. |
| Value of New Zealand business | $233,197,806 |
| Applicant | IX Infrastructure Pty Limited Singapore (44.43%) Asia (ex Singapore) (1.56%) United Kingdom (2.79%) Europe (0.74%) North America (5.07%) Various Overseas Persons (45.42%) |
| Vendor | Existing shareholders of Ixom HoldCo Pty Ltd The Blackstone Group LP, United States of America (91.942%) Australian Public (8.058%) |
| Background | The Applicant is a special purpose vehicle of the Keppel Infrastructure Trust (Trust). The Trust manages core infrastructure assets and is listed on the Singapore Stock Exchange. The Investment involves the Applicant’s acquisition of 100% of the shares in Ixom HoldCo Pty Ltd, an Australian holding company in the water treatment and chemical supplies industry. The subsidiaries of this holding company include Ixom Operations Pty Ltd, New Zealand’s largest chemical distributor (Ixom). The Applicant wishes to develop and grow Ixom’s water treatment and chemical manufacturing business in New Zealand following the completion of the Investment. The Applicant has satisfied the OIO 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 | Lance Jones Russell McVeagh PO Box 8 AUCKLAND |