| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 26 November 2014 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 30% of the shares of Quantum Limited, the value of the assets of Quantum Limited and its 25% or more subsidiaries being greater than $100m. |
| Consideration | $14,250,000 |
| Applicant | Millennium & Copthorne Hotels New Zealand Limited Millennium & Copthorne Hotels Plc, United Kingdom (70.22%) New Zealand Public (29.78%) |
| Vendor | Te Māori Lodges Limited Māori Trustee, New Zealand (100.0%) |
| Background | Millennium & Copthorne Hotels New Zealand Limited already owns 70% of Quantum Limited and wishes to purchase the remaining 30% from Te Māori Lodges Limited. Quantum Limited manages and owns hotels. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | James Cooney/Gavin J Macdonald Bell Gully PO Box 4199 AUCKLAND 1140 |