| Decision number | 200710010 |
|---|---|
| Application number | 200620144 |
| Date | 16 February 2007 |
| Offeror/applicant | Sirius NZ Finance Co Limited |
| Ultimate applicant beneficial ownership | 68.935 percent - United States of America, United States Public 17.115 percent - Australia, Australian Public 12.4 percent - New Zealand, Sturgess (Thomas Wilton) 1.55 percent - New Zealand, New Zealand Public |
| Beneficial overseas ownership | |
| - Asset current | N/A |
| - Asset proposed | N/A |
| - Share current | 97 percent |
| - Share proposed | 84 percent |
| Offeree(s)/seller(s) | Existing shareholders in Blue Star Print Group Limited 89.03 percent - New Zealand, New Zealand Public 10.97 percent - Australia, Australian Public |
| Business activities | Manufacturing - Printing, Publishing & Recorded Material |
| Details of land involved | None |
| Regions involved | Various |
| Total consideration | $173,250,000 |
| Consent sought | To acquire up to 100 percent of the shares of Blue Star Print Group 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. The Applicant is a special purpose company incorporated by 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. The Applicant proposes to acquire 100 percent of the shares in Blue Star Print Group Limited (Blue Star) a company that provides print and marketing communications solutions in New Zealand and Australia. The Applicant intends to grow the Blue Star business significantly over the next three years. |
| Contact | Garth Sinclair/Christopher Bargery Russell McVeagh PO Box 8 AUCKLAND |