| Decision | Consent Granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 22 December 2010 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 92.1% of the Common Stock of American International Group Inc, the value of the New Zealand assets of American International Group Inc (AIG) and its 25% or more subsidiaries being greater than $100m. |
| Consideration | $355,683,000 |
| Applicant | United States Department of the Treasury United States of America (100%) |
| Vendor | AIG Credit Facility Trust Various overseas persons (100%) |
| Background | The Application relates to a recapitalisation required as a result of the global financial credit crisis. Following the recapitalisation the Applicant eventually intends to exit its ownership interest in AIG. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Graeme Quigley Russell McVeagh (Auckland) PO Box 8 AUCKLAND |