| Decision | Consent granted Section 12(b) Overseas Investment Act 2005 |
|---|---|
| Decision date | 13 November 2012 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in 100.0% of the issued share capital of Milfos International Limited which owns or controls a leasehold interest in approximately 1.2355 hectares of land at 12-14 Quail Place, Hamilton. |
| Consideration | $13,290,668 |
| Applicant | GEA Farm Technologies New Zealand Limited Various(31.86%) United Kingdom Public (22.68%) French Public (13.61%) German Public (10.99%) Black Rock Inc., United States of America (9.78%) Kuwait Investment Office (6.38%) United States Public (3.01%) Kuwait Public (1.69%) |
| Vendor | Existing shareholders of Milfos International Limited New Zealand (100%) |
| Background | The Applicant manufactures a range of products for the agricultural industry. The Investment will allow the Applicant to strengthen its existing product range and increase the visibility of the GEA brand in New Zealand. 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 | Michael Pollard Simpson Grierson Private Bag 92518 AUCKLAND |