| Decision | Consent granted Section 12(b) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 14 March 2016 |
| Investment | An overseas investment in sensitive land, being the acquisition of rights or interests in 100% of the shares of MP Biomedicals LLC which owns or controls a leasehold interest in 0.4808 hectares of land at 37-39 Waipareira Avenue, Henderson, Auckland. |
| Consideration | NZD 211,200,000 or the equivalent of USD 142.50 million and subject to adjustments at closing of the transaction (being the consideration relating to the entire international transaction – the amount attributable to the New Zealand aspect of the international transaction is significantly less than NZD 100 million). |
| Applicant | Valiant Co. Limited China Public (49.17%) CECEP Shandong Investment & Development Corporation, China, People's Republic of (21.98%) Luyin Investment Group Co. Ltd, China, People's Republic of (12.0%) China Energy Conservation and Environmental Protection Group (CECEP), China, People's Republic of (6.61%) Yantai Supply and Marketing Cooperative, China, People's Republic of (6.08%) Luyin Technology Investment Co. Ltd, China, People's Republic of (4.16%) |
| Vendor | MP Biomedicals Holdings LLC United States of America (100%) |
| Background | The Applicant intends to acquire MP Biomedicals LLC, ultimate shareholder of MP Biomedicals New Zealand Limited. MP Biomedicals New Zealand Limited has gained an international reputation in providing bovine plasma proteins that are manufactured under CGMP and ISO 9001 conditions. These proteins are used in the bio-pharmaceutical and diagnostic industries because of their high purity and intact proteins. The Applicant wishes to diversify its products and markets and believes that it will achieve this through the Investment. The Applicant intends to enter the bio-medicals and pharmaceuticals market in countries outside of China, while supporting its market and business operations in China. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'benefit to New Zealand' criterion was satisfied by particular reference to the following factors: Overseas Investment Act 2005 Overseas Investment Regulations 2005 |
| More information | Daniel Jones Russell McVeagh PO Box 8 AUCKLAND |