Decision number | 200820030 |
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Application number | 200810055 |
Date | 11 September 2008 |
Offeror/applicant | Paper Business Limited |
Ultimate applicant beneficial ownership | 66.77 percent - New Zealand, New Zealand Public 33.23 percent - Australia, Australian Public |
Beneficial overseas ownership | |
- Asset current | 0 percent |
- Asset proposed | 33.23 percent |
- Share current | N/A |
- Share proposed | N/A |
Offeree(s)/seller(s) | BJ Ball Holdings Limited 100 percent - New Zealand, New Zealand Public |
Business activities | Manufacturing - Printing, Publishing & Recorded Material |
Details of land involved | 3.061 hectares of leasehold situated at 6-10 Southpark Place, Penrose, Auckland being part CTs 169570, NA109C/583, and NA102D/927 (North Auckland Registry). |
Regions involved | South Auckland |
Total consideration | $10,595,596 |
Consent sought | To acquire an interest in land which, either alone or together with any associated land, exceeds 0.4 hectares and adjoins land that is listed, or in a class listed, as a reserve, a public park, or other sensitive area by the regulator under section 37. |
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 to the Investment: Outline of the Investment: Rationale for the Investment: The proposed investment will or is likely to benefit New Zealand (or any part of it or group of New Zealanders) having regard to the following factors: Overseas Investment Act 2005: Overseas Investment Regulations 2005: |
Contact | Cathy Quinn Minter Ellison Rudd Watts P O Box 3798 AUCKLAND 1140 |