Decision | Consent granted Section 12(b) and 13(1)(a) Overseas Investment Act 2005 |
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Decision date | 1 November 2013 |
Investment | An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in up to 100% of the shares of Mediaworks Investments Limited (or any subsidiary of Mediaworks Investments Limited) which owns or controls:
An overseas investment in significant business assets, being:
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Consideration | $292,810,480 |
Applicant | Tokyo Opportunities B.V. United States of America (100%) |
Vendor | Existing Shareholders and Financiers of Mediaworks Investments Limited United Kingdom (24.0904%) United States of America (31.6414%) Australia (19.93%) Netherlands (19.91%) Various overseas persons (4.4282%) |
Background | The Applicant currently has consent from the Overseas Investment Office to be the largest shareholder in Mediaworks Investments Limited (26.726%). The proposed investment will allow the Applicant to increase its interest in Mediaworks Investments Limited up to 100% and give it full control over the Mediaworks business. This is likely to increase the on-going viability of the Mediaworks business. The overseas investment transaction has satisfied the criteria in sections 16 and 18 of the Overseas Investment Act 2005. The 'benefit to New Zealand' criterion was satisfied by particular reference to the following factors: Overseas Investment Regulations 2005 |
More information | David Hoare Russell McVeagh PO Box 8 AUCKLAND |
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