| Decision | Consent granted Section 12(b) Overseas Investment Act 2005 |
|---|---|
| Decision date | 5 October 2012 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in up to 30% of the shares of Fibre Reinforced Plastics (NZ) Limited, which owns or controls a leasehold interest in 1.1267 hectares of land at 65 and 65A Keeling Road, Henderson, Auckland. |
| Consideration | $731,625 |
| Applicant | RV Manufacturing Group LP Kea Manufacturing (New Zealand) Limited, New Zealand (50.0%) New Zealand Public (30.85%) United States Public (12.0%) Various overseas persons (3.65%) Bermuda Public (3.5%) |
| Vendor | Kea Manufacturing (New Zealand) Limited New Zealand (100%) |
| Background | The overseas investment is part of a larger transaction that involves the merging of the vehicle manufacturing of Tourism Holdings Limited and Kea Manufacturing (New Zealand) Limited. 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 | Mark Stuart/Kirk Boladeras Minter Ellison Rudd Watts PO Box 3798 AUCKLAND 1140 |