| Decision | Consent granted Section 12(b) Overseas Investment Act 2005 |
|---|---|
| Decision date | 12 September 2014 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in up to 100% of the shares of All3Media Holdings Limited which owns or controls a leasehold interest in approximately 1.4254 hectares of land at 7 and 8 Tolich Place, Henderson, Auckland (“the Investment”). |
| Asset Value | The value of South Pacific Pictures Investments Limited’s total gross assets was $19m as at 31st August 2013, as per the Statement of Financial Position in its published Annual Report for the year ended 31 August 2013. |
| Applicant | DLG Acquisitions Limited Liberty Global Plc, United Kingdom (50.0%) Discovery Communications Inc, United States of America (50.0%) |
| Vendor | Existing Shareholders of All3Media Holdings Limited United States Public (38.0%) Various overseas persons (33.0%) United Kingdom Public (29.0%) |
| Background | All3Media Holdings Limited is the parent company of South Pacific Pictures Investments Limited (“SPP”), a New Zealand television and film production company. The Investment will benefit the stability of SPP’s business operations in New Zealand. The Applicant intends to be a committed, long-term owner of All3Media Holdings Limited and its group companies, including SPP. 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 200528(a) – Consequential benefits |
| More information | Melissa Pengelly Quigg Partners PO Box 3035 WELLINGTON 6140 |