| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 10 October 2017 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 100% of the shares of Perfect Match Investment Limited, the consideration of which exceeds $100 million. |
| Consideration | $142,000,000 |
| Applicant | Kusnadi Budiman and other family members Indonesia (100%) |
| Vendor | Kusnadi Budiman Indonesia (100%) |
| Background | Perfect Match Investment Limited (“Perfect Match”) is a Hong Kong incorporated company which beneficially owns several hotels in New Zealand. Kusnadi Budiman has been Perfect Match’s sole shareholder. As part of his succession plan, this Investment will dilute Kusnadi Budiman’s shareholding in Perfect Match to his family members, and will raise capital to the family business. The Applicant and the individuals with control of the Investment have satisfied the OIO that they have the relevant business experience and acumen, have demonstrated financial commitment to the Investment and are of good character. |
| More information | Joshua Pringle Chapman Tripp PO Box 2206 AUCKLAND 1140 |