| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 20 June 2011 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in 0.4955 hectares of land at 112-114 Sawyers Arm Rd, Christchurch. |
| Consideration | $2,462,575 |
| Applicant | ABC Developmental Learning Centres (NZ) Limited ZYX Learning Centres Limited (in receivership and administration)(in liquidation), Australia (100.0%) |
| Vendor | Doncaster Holdings Limited John Edward Cox, New Zealand (100.0%) |
| Background | The Applicant operates early childhood education centres in New Zealand and also an education facility located in Christchurch, known as the New Zealand College of Early Childhood Education (the "College"). The College has been forced to relocate as a result of the 22 February 2011 Canterbury earthquake. The Investment will allow the applicant to continue to operate its business. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'benefit to New Zealand' criterion was satisfied by particular reference to the following factors: Overseas Investment Act 2005 Overseas Investment Regulations 2005 |
| More information | Jocelyn Martin Minter Ellison Rudd Watts (Auckland) PO Box 3798 AUCKLAND 1140 |