| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 1 November 2011 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in the remaining 50.0% of the shares of Viaduct Corporate Centre Limited, the value of the assets of Viaduct Corporate Centre Limited and its 25% or more subsidiaries being greater than $100m. |
| Asset Value | $155,000,000 |
| Applicant | Goodman Nominee (NZ) Limited as nominee of the Goodman Property Trust New Zealand Public (72.45%) Australian Public (22.84%) North American Public (3.69%) Asian Public (0.61%) United Kingdom Public (0.34%) European Public (0.07%) |
| Vendor | Balfour Trust and Eamon Trust New Zealand (100%) |
| Background | The Applicant currently owns 50% of the shares in Viaduct Corporate Centre Limited (Viaduct). The Applicant proposes to acquire the remaining 50% of the shares in Viaduct. Viaduct’s primary activity is the ownership and management of its Auckland Viaduct Harbour properties and ancillary activities. The Applicant considers the transaction to be consistent with the Applicant’s business strategy of owning good quality commercial office and industrial property in New Zealand. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Natalie Steur Ed Crook |