| Decision | Consent granted Section 12(b) Overseas Investment Act 2005 |
|---|---|
| Decision date | 14 May 2015 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in up to 100% of the shares of Good Health Products Limited which owns or controls a leasehold interest in approximately 1.6917 hectares of land at 8 Parkhead Place, Albany Auckland. |
| Consideration | $23,274,254 |
| Applicant | Shanghai Weiyi Investment & Management Limited Company Nanjing Sinolife United Company Limited, Hong Kong (60.0%) Shanghai Fosun Weishi Tranche One Private Equity Partnership Limited, China, People's Republic of (40%) |
| Vendor | Existing Shareholders of Good Health Products Limited New Zealand (100%) |
| Background | The Applicant intends to acquire 100% of the shares of Good Health Products Limited in order to expand its business internationally. The Applicant intends to continue to run the business in New Zealand and to grow sales of Good Health Products Limited’s natural health products into the Chinese market. 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 | Martin Wiseman / Pavanie Edirisuriya DLA Piper New Zealand DX CP 24027 Auckland |