| Decision | Consent granted Section 12(b) Overseas Investment Act 2005 Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 18 February 2015 |
| Investment | An overseas investment in sensitive land, being the acquisition of rights or interests in up to 100% of the shares of Goodman Fielder Limited which owns or controls:
An overseas investment in significant business assets, being the acquisition of rights or interests in up to 100% of the shares of Goodman Fielder Limited, the value of the assets of Goodman Fielder Limited and its 25% or more subsidiaries being greater than $100m. |
| Asset value | $1,278,000,000 |
| Applicant | W Singapore Holdings Pte. Ltd. Wilmar International Limited, Singapore (50%) First Pacific Company Limited, Hong Kong (SAR) (50%) |
| Vendor | Existing shareholders of Goodman Fielder Limited Australian Public (80.1%) Wilmar International Limited, Singapore (10.1%) First Pacific Company Limited, Hong Kong (SAR) (9.8%) |
| Background | The Applicant plans to expand the distribution of Goodman Fielder’s products into potential new markets in the Asia-Pacific region utilising its existing distribution/sales network. The Applicant also plans to accelerate the implementation of several key projects aimed at increasing the efficiency of Goodman Fielder’s New Zealand operations. The overseas investment transaction has satisfied the criteria in sections 16 and 18 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors: Overseas Investment Act 2005 Overseas Investment Regulations 2005 |
| More information | Joshua Pringle Chapman Tripp PO Box 2206 AUCKLAND 1140 |