| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 21 December 2011 |
| Investment | An overseas investment in significant business assets, being the Applicant's investment in up to 100% of the shares in PEPSCA Pty Limited which, through its New Zealand subsidiaries, PEPSCANZ Limited, SCA Hygiene Holding Limited and SCA Hygiene Australasia Limited, has New Zealand assets with a value in excess of NZ$100 million. |
| Consideration | A$230,000,000 |
| Applicant | Pacific Equity Partners Pty Ltd, on behalf of a group of investment funds managed and/or advised by Pacific Equity Partners Pty Limited and its affiliates Various overseas persons (100%) |
| Vendor | Svenska Cellulosa Aktiebolaget SCA Swedish Public (69.38%) United States Public (11.72%) Other overseas shareholders in Svenska Cellulosa Aktiebolaget SCA, Various (11.68%) United Kingdom Public (7.22%) |
| Background | PEP and the PEP Funds are financial investors. PEP's strategy, as adviser to the PEP Funds, is to invest in business opportunities where PEP's management expertise, capital resources and understanding of financial structuring enables it to improve the operating performance and create value in the relevant businesses prior to realising its investments in those businesses. The PEP Funds have identified the PEPSCA group as a financially sound investment opportunity and accordingly have decided to make the investment. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | David Hoare Ben Paterson |