Applicant
General Distributors Limited
Case number(s)
200920081
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date3 December 2009
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 12.6459 hectares of land at 129 Beachlands Road, Beachlands.
ConsiderationConfidential
ApplicantGeneral Distributors Limited
Australia (98.98%)
New Zealand (0.78%)
Various (0.24%)
VendorCaledonian Road Trustees Limited
New Zealand (100.0%)
Background

The Applicant is seeking to expand its operations across New Zealand and the land is being acquired to enable the Applicant to implement its business investment plans. The acquisition will enable the Applicant to increase its presence in the Beachlands area.

The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors:

Overseas Investment Act 2005
17(2)(a)(i) – Creation/Retention of jobs
17(2)(a)(iv) – Added market competition/productivity
17(2)(a)(v) – Additional investment for development purposes

Overseas Investment Regulations 2005
28(c) – Affect image, trade or international relations
28(e) – Previous investments

More informationEdward Dunphy
Russell McVeagh (Auckland)
PO Box 8
AUCKLAND