| Decision number | 200710075 |
|---|---|
| Application number | 200710097 |
| Date | 28 June 2007 |
| Offeror/applicant | HIH Global Invest GmbH |
| Ultimate applicant beneficial ownership | 80 percent - Germany, Olearius and Warburg families 20 percent - Germany, German Investors |
| Beneficial overseas ownership | |
| - Asset current | 0 percent |
| - Asset proposed | 100 percent |
| - Share current | N/A |
| - Share proposed | N/A |
| Offeree(s)/seller(s) | Manson Buildings Limited 100 percent - New Zealand, Manson (Edward Colin) |
| Business activities | Property & Business Services - Property |
| Details of land involved | None. |
| Regions involved | Auckland |
| Total consideration | $156,375,000 |
| Consent sought | To acquire property being two leasehold properties being the GE Building at 8 Tangihua Street, Auckland CBD, and the BNZ Building at 30 Mahuhu Crescent, Auckland CBD, from Manson Buildings Limited. |
| Rationale | The application has been approved as it met the criteria. The Overseas Investment Office is satisfied that the individuals with control of the Applicant collectively have business experience and acumen relevant to the overseas investment, and that the Applicant has demonstrated financial commitment towards the overseas investment. The Overseas Investment Office is further satisfied that each individual that exercises control over the Applicant is of good character and is not an individual of the kind referred to in section 7(1) of the Immigration Act 1987. Background: Rationale for Proposed Development: |
| Contact | Susie Kilty Buddle Findlay P O Box 2694 WELLINGTON |