| Decision | Consent Granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 21 January 2011 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in the shares of Michael Hill International Limited pursuant to a partial takeover offer. |
| Consideration | To be advised |
| Applicant | Durante Holdings Pty Limited Michael Hill Family, New Zealand (100.0%) |
| Vendor | Existing Shareholders of Michael Hill International Limited other than Durante Holdings Pty Limited |
| Background | The Applicant which is 100% owned by the Michael Hill Family currently has a 47.62% shareholding in Michael Hill International Limited (the Company). The Michael Hill Family wishes to demonstrate its support and ongoing commitment to the Company by investing further in it. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Sam Nelson Lane Neave PO Box 13-149 CHRISTCHURCH |