| Decision | Consent Granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 16 December 2010 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 47.62% of the ordinary shares of Michael Hill International Limited, the consideration of which exceeds $100m. |
| Consideration | $144,122,086 |
| Applicant | Durante Holdings Pty Limited Michael Hill Family, New Zealand (100.0%) |
| Vendor | Box Hill Trust, Michael Hill International Share Trust and Quinten Trust Michael Hill Family, New Zealand (100.0%) |
| Background | The rationale for the investment is to consolidate the Hill's family's shareholding in Michael Hill International Limited into one single entity. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Sam Nelson Lane Neave PO Box 13-149 CHRISTCHURCH |