| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 9 July 2013 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 100.0% of the shares of Allflex Holdings III, Inc. the consideration of which exceeds $100m. |
| Consideration | US$ 1.35 billion for the worldwide business of Allflex Group (enterprise value). The value of the New Zealand assets exceeds NZ$100m. |
| Applicant | Tagada Holdings Inc BC European Capital IX Fund, United Kingdom (75.4%) Electra Private Equity Partners 2006 Scottish LP, United Kingdom (14.9%) Various overseas persons (9.7%) |
| Vendor | Existing Shareholders of Allflex Holdings III, Inc United Kingdom Public (55.60%) Jersey Public (20.50%) French Public (9.35%) Various overseas persons (8.52%) United States Public (6.03%) |
| Background | Allflex Holdings III, Inc. operates a worldwide business of manufacturing and distributing plastic and electronic animal identification tags. Allflex NZ which is a wholly-owned subsidiary of Allflex Holdings III, Inc. has been operating in the New Zealand animal identification business for over 57 years. The Investment is an acquisition of the world-wide business of the Allflex Holdings III, Inc. The Applicant plans to support the international growth of Allflex Holdings III, Inc. and will continue the on-going support of Allflex NZ. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Michael Pollard Simpson Grierson Private Bag 92518 Wellesley Street AUCKLAND |