| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 18 September 2014 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in up to a further 27.28% of the issued share capital of Tru-Test Corporation Limited, resulting in the Applicant controlling up to 49% of the issued share capital of Tru-Test Corporation Limited, the value of the assets of Tru-Test Corporation Limited and its 25% or more subsidiaries being greater than $100m. |
| Consideration | $6,000,000 |
| Applicant | KTT Limited Partnership United Kingdom Public (57.2%) Australian Public (39.9%) New Zealand Public (2.9%) |
| Vendor | Existing shareholders of Tru-Test Corporation Limited other than KTT Limited Partnership New Zealand Public (89.96%) Australian Public (10.04%) |
| Background | The Applicant considers that the increased investment in Tru-Test Corporation Limited (TTC), an agricultural technology company will further facilitate TTC’s strategy of continued technological development, innovation, job growth and export growth. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Allister Doo Hornabrook MacDonald PO Box 91845 AUCKLAND |