| Decision number | 200720051 |
|---|---|
| Application number | 200720057 |
| Date | 29 October 2007 |
| Offeror/applicant | McMillan Printing Unit Custodian Pty Limited as trustee for the McMillan Printing Unit Trust |
| Ultimate applicant beneficial ownership | 100 percent - Australia, McMillan Family |
| Beneficial overseas ownership | |
| - Asset current | N/A |
| - Asset proposed | N/A |
| - Share current | 86.05 percent |
| - Share proposed | 100 percent |
| Offeree(s)/seller(s) | Existing shareholders in Sirius NZ Holdco Limited 51.0484 percent - United States of America, United States Public 32.68 percent - Australia, Australian Public 12.4 percent - New Zealand, Sturgess (Thomas Wilton) 2.3216 percent - Singapore, Singapore Public 1.55 percent - New Zealand, New Zealand Public |
| Business activities | Manufacturing - Printing, Publishing & Recorded Material |
| Details of land involved | None |
| Regions involved | Various |
| Total consideration | $5,847,955 |
| Consent sought | To acquire up to 100 percent of the shares in Sirius NZ Holdco Limited |
| Rationale | The application has been approved as it met the criteria. The Overseas Investment Office is satisfied that the Applicants have business experience and acumen relevant to and are demonstrating financial commitment towards the investment. The Overseas Investment Office is further satisfied that the Applicants are of good character and not the kind of persons referred to in section 7(1) of the Immigration Act 1987. Consent was granted on 16 February 2007 (refer A200620144/D200710010) for Sirius NZ Finance Co Limited (Sirius Finance) to acquire 100 percent of the shares in Blue Star Print Group Limited (Blue Star). This consent included the issue of shares in the Sirius Finance to Sirius NZ Holdco Limited (Sirius Holdco). The shares in Sirius Holdco were issued to Castle Harlan Australian Mezzanine Partners Pty Limited as manager for the CHAMP Buyout II Trust and Castle Harlan, Inc. as manager for the CHI II Funds. Blue Star is a company that provides print and marketing communications solutions in New Zealand and Australia. In order to fund further growth and acquisitions, Sirius Holdco proposes to issue ordinary shares to each of the existing shareholders (refer also A200720055 and A200720056) and the Applicant. Accordingly, the Applicant seeks consent to acquire up to 100 percent of the shares in Sirius Holdco. Initially the Applicant proposes to acquire 3.2 percent of the shares in Sirius Holdco. |
| Contact | Chris Bargery Russell McVeagh PO Box 8 AUCKLAND |