| Decision | Consent Granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 21 January 2010 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 100.0% of the shares of Leasing Solutions Limited, the consideration of which exceeds $100m. An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 100.0% of the shares of Onesource Group Limited, the consideration of which exceeds $100m. |
| Consideration | $132,000,000 |
| Applicant | CSG Limited Australia (100.0%) |
| Vendor | Leasing Solutions Holdings Limited Australia (76.0%) Belgium (14.0%) New Zealand (10.0%) Onesource New Zealand Limited Australia (76.0%) Belgium (14.0%) New Zealand (10.0%) |
| Background | The proposed transaction involves two related share acquisitions being the acquisition of all of the shares in Onesource Group Limited (OGL) and Leasing Solutions Limited (LSL). OGL is a leading office technology group operating in New Zealand and Australia which owns 90% of Konica Minolta Business Solutions Limited (KMBS). LSL is a specialist provider of rental and lease products that are tailored to technology assets and document solutions. The proposed acquisition provides an opportunity for the Applicant to expand its business into overseas markets. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Nick Lovegrove DLA Phillips Fox (Auckland) PO Box 160 AUCKLAND |