Applicant
Danone Asia Pacific Holdings Pte. Ltd.
Case number(s)
201410081
Decision date
Type
Decision
DecisionConsent granted
Section 13(1)(c) Overseas Investment Act 2005
Decision date10 July 2014
Investment

An overseas investment in significant business assets, being the Applicant’s acquisition of property in New Zealand used in carrying on business in New Zealand for consideration exceeding $100m, that property being:

  • the acquisition of up to 100% of the securities in Sutton Group Limited, K&B Limited and Nutritional Can Manufacturers Limited; and
  • the assets and business of Gardians Limited.
ConsiderationWithheld under s(9)(2)(b)(ii) of the Official Information Act
ApplicantDanone Asia Pacific Holdings Pte. Ltd.
Danone SA, France (100%)
VendorSutton Group Holdings Limited, Gardians Limited, Sutton Properties Limited and The Kensington Trust and Broadwood Trust Partnership
New Zealand (100%)
Background

The Applicant seeks to acquire the business and assets from the vendor and undertake the business of processing raw milk into paediatric formula and the packing of the formula into individual cans for sales across the Asia-Pacific region.

The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005.

More informationGavin J Macdonald
Bell Gully
PO Box 4199
AUCKLAND 1140