Applicant
AML Limited
Case number(s)
201220090
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date21 August 2013
Investment

An overseas investment in sensitive land, being the Applicant's acquisition of:

  • a freehold interest in approximately 0.7726 hectares of land at Patiki Road, Avondale, Auckland; and
  • a freehold interest in approximately 0.4047 hectares of land at Queen Street East, Cambridge.
Consideration$1,792,000
Applicant

AML Limited
Allied Concrete Limited, New Zealand (49.999%)
Holcim (New Zealand) Limited (50.001%), 100% owned a Swiss Public Company, resulting in:

  • Swiss Public (25.0005%)
  • Various overseas persons (17.0003%)
  • United Kingdom Public (6.5001%)
  • United States Public (1.5%)
Vendor

Holcim (New Zealand) Limited
Swiss Public Company 100%, resulting in:

  • Swiss Public (50%)
  • Various overseas persons (34%)
  • United Kingdom Public (13%)
  • United States Public (3%)
Background

AML Limited (“AML”) was formed as a joint venture between Allied Concrete Limited (“Allied”) and Holcim (New Zealand) Limited (“Holcim NZ”) to own and operate ready mixed concrete plants. Holcim NZ and Allied Concrete are expanding their joint venture arrangement. This expansion includes the transfer of ready mix concrete plants in Cambridge (Waikato) and Avondale (Auckland) from Holcim NZ to AML.

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
17(2)(a)(iv) – Greater efficiency in New Zealand
17(2)(f) – Offer to gift foreshore to the Crown

Overseas Investment Regulations 2005
28(e) – Previous investments
28(g) – Enhance the viability of other investments
28(j) – Mitigating factor

More informationStephanie Muller
Chapman Tripp
PO Box 2510
CHRISTCHURCH