| Decision | Consent granted Section 13(1)(a) |
|---|---|
| Decision date | 8 October 2013 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in up to 100% of the securities of Life Technologies Corporation and resulting in the Applicant indirectly wholly owning Life Technologies New Zealand Limited, with the consideration in respect of Life Technologies New Zealand Limited exceeding $100m. |
| Consideration | Approximately US$13.6 billion for the world-wide business of Life Technologies Corporation. The value of the New Zealand business may exceed NZ$100 million. |
| Applicant | Thermo Fisher Scientific Inc. United States of America (100%) |
| Vendor | Existing shareholders of Life Technologies Corporation United States of America (100%) |
| Background | Thermo Fisher Scientific Inc. is a global supplier of laboratory and analytical instruments, diagnostics and related products. Life Technologies Corporation is a manufacturer and global supplier of biotechnology tools for a range of life sciences applications. Thermo Fisher Scientific Inc. envisages that the acquisition will allow it to broaden its product range, enhance its geographic reach and grow its existing New Zealand presence. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Chris Bargery Russell McVeagh PO Box 8 AUCKLAND |