| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 23 June 2015 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in:
the consideration of which exceeds $100m. |
| Consideration | $117,826,000 |
| Applicant | Yellow Holdings Limited United States of America (61.0775%) Cayman Islands (19.11%) Hong Kong (SAR) (6.85%) Australia (5.6%) China, People's Republic of (4.99%) Other (2.3725%) |
| Vendor | NZ Directories Finance Limited United States of America (60.4738%) Cayman Islands (19.095%) Hong Kong (SAR) (6.1%) Australia (5.6%) China, People's Republic of (4.99%) Other (3.7412%) |
| Background | The Investment relates to the Yellow Pages group debt restructure which will convert ownership of debt to debt and equity. The Applicant is a special purpose company incorporated for the purpose of the restructure and owned by the creditors of the Yellow Pages group. As part of the restructure the Applicant will acquire the Investment being the shares in Yellow Pages Group Limited and NZ Directories IP Limited. Changes to the beneficial ownership of Yellow Pages Group Limited and NZ Directories IP Limited as a result of the Investment will be minor. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Toby Sharpe Bell Gully PO Box 4199 Auckland 1140 |