| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 16 October 2012 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in the remaining 14.071% of the issued share capital of NZ Farming Systems Uruguay Limited, the value of the assets of NZ Farming Systems Uruguay Limited and its 25% or more subsidiaries being greater than $100m. |
| Consideration | $25,800,000 |
| Applicant | Olam International Limited North American Public (26.6%) Singapore Public (24.02%) Kewelram Chanrai Holdings Limited, Singapore (20.23%) Singapore Government, Singapore (16.35%) Various overseas persons (12.8%) |
| Vendor | Existing shareholders of NZ Farming Systems Uruguay Limited other than Olam International Limited New Zealand (100%) |
| Background | The Applicant currently owns 85.929% of NZ Farming Systems Uruguay Limited and wishes to be in a position to acquire the remaining 14.071% of the shares. The investment will enable the Applicant to further its long-term growth strategy into the key dairy areas of Oceania and North and South America. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Simon Vodanovich Buddle Findlay PO Box 1433 AUCKLAND 1140 |