| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 25 March 2015 |
| Investment | An overseas investment in significant business assets, being the Applicant’s acquisition of the Hardinge/Victoria Street Building, Spark City, 167-169 Victoria Street West, Auckland (also known as “Building D”). |
| Consideration | $135,291,367 |
| Applicant | Pengxin Holdings (HK) Company Limited Zhaobai Jiang, China, People's Republic of (100.0%) |
| Vendor | Mansons Holdings Limited Edward Colin Manson and Family, New Zealand (100.0%) |
| Background | The investment aligns with the applicant’s core focus on real estate and will allow it to continue its international growth. It will also enable the Shanghai Pengxin Group to expand and diversify its operations in New Zealand. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Tessa Baker Chapman Tripp PO Box 2206 AUCKLAND 1140 |