| Decision | Consent Granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 28 July 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 Pacific Equipment Solutions Limited, the value of the assets of Pacific Equipment Solutions Limited and its 25% or more subsidiaries being greater than $100m. |
| Asset Value | $172,217,299 |
| Applicant | Tasman Capital Partners Pty Limited on behalf of New Trust Australian Public (88.4%) New Zealand Public (11.6%) |
| Vendors | Existing shareholders of Pacific Equipment Solutions Limited (PESL) Tasman Secondary Trust, Australia (88.4%) New Zealand Public (11.6%) |
| Background | PESL owns and operates the Hirequip group, including Hirequip Limited, which is the largest full service equipment hire company in New Zealand. The Investment simplifies the Hirequip group's corporate structure. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Mark Stuart Minter Ellison Rudd Watts (Auckland) PO Box 3798 AUCKLAND 1140 |