| Decision | Consent granted Section 12(b) Overseas Investment Act 2005Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 9 October 2012 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in up to 100% of the shares of Asia Pacific Breweries Limited which owns or controls:
An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in up to 100% of the shares of Asia Pacific Breweries Limited, the value of the assets of Asia Pacific Breweries Limited and its 25% or more subsidiaries being greater than $100m. |
| Consideration | $331,000,000 (being the asset value of DB Breweries Limited) |
| Applicant | Heineken International B.V. Heineken Family, Netherlands (22.6193%) Various (24.0575%) North American Public (20.1462%) Fomento Economico Mexicano, S.A.B. de C.V. (FEMSA), Mexico (20.0002%) United Kingdom Public (8.2506%) Greenfee B.V, Netherlands (2.9248%) Dutch Public (2.0014%) |
| Vendor | Existing shareholders of Asia Pacific Breweries Limited other than Heineken International B.V. Fraser and Neave, Limited, Singapore (73.2951%) Singapore Public (26.7049%) |
| Background | The Applicant currently owns approximately 46% of Asia Pacific Breweries Limited (“APBL”) and aims to increase its shareholding up to 100%. APBL owns 100% of DB Breweries Limited. The Applicant's goal is to grow its presence in emerging markets (such as Asia). Acquiring APBL provides a unique opportunity for the Applicant to achieve its goal. The overseas investment transaction has satisfied the criteria in sections 16 and 18 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors: Overseas Investment Act 2005 Overseas Investment Regulations 2005 |
| More information | Craig Nelson Simpson Grierson Private Bag 92518 Wellesley Street AUCKLAND |