Applicant
ALL3MEDIA Limited
Case number(s)
201220073
Decision date
Type
Decision
DecisionConsent granted
Section 12(b) Overseas Investment Act 2005
Decision date13 March 2013
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in an additional 40.3% of the shares (total 100%) of South Pacific Pictures Investments Limited which owns or controls a leasehold interest in 1.4254 hectares of land located at Tolich Place, Henderson, Auckland.
ConsiderationCONFIDENTIAL
ApplicantALL3MEDIA Limited
United States Public (38%)
Various overseas persons (33%)
United Kingdom Public (29%)
VendorEndeavour Entertainment Limited
New Zealand (100%)
Background

The Applicant intends to continue and grow the present activities of the television and film production business located on the land.

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
17(2)(a)(i) – Creation/Retention of jobs
17(2)(a)(iii) – Increased export receipts
17(2)(a)(iv) – Greater efficiencies

Overseas Investment Regulations 2005
28(c) – Affect image, trade or international relations
28(e) – Previous investments
28(f) – Advance significant Government policy or strategy
28(g) – Enhance the viability of other investments
28(i) – Economic interests

More informationDavid J Quigg/Melissa Pengelly
Quigg Partners
PO Box 3035
WELLINGTON 6140