| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 17 November 2011 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 100.0% of the shares of Exego Group Pty Limited (through an initial acquisition of 30% and an exercise of a call option for the balance of 70%), the value of the assets of Exego Group Pty Limited and its 25% or more subsidiaries being greater than $100m. |
| Asset Value | $183,000,000 |
| Applicant | Genuine Parts Company United States of America (100%) |
| Vendor | Existing shareholders of Exego Group Pty Limited AOF Beta B V, Netherlands (77.08%) Australian Public (22.92%) |
| Background | The investment will provide the Applicant with a significant stake in New Zealand’s leading automotive aftermarkets parts distributor. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Stephen P Ward Simpson Grierson PO Box 2402 WELLINGTON |