Applicant
Stolthaven Terminals B.V.
Case number(s)
201420036
Decision date
Type
Decision
DecisionConsent granted
Section 12(b) Overseas Investment Act 2005
Decision date24 November 2014
Investment

An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in the remaining 30.0% of the issued share capital of Stolt-Nielsen Australasia Holdings Pty Limited, which owns or controls:

  • a leasehold interest in approximately 2.4966 hectares of land at Cnr Brigham & Hamer Streets, Freemans Bay, Auckland; and
  • a leasehold interest in approximately 0.6435 hectares of land at 251 Foreshore Road, Island Harbour, Bluff; and
  • a leasehold interest in approximately 1.1892 hectares of land at 25 Gabador Place, Mt Wellington, Auckland.
ConsiderationWithheld under s(9)(2)(b)(ii) of the Official Information Act
ApplicantStolthaven Terminals B.V.
Norway Public (43.52%)
United Kingdom Public (30.02%)
United States Public (20.06%)
Belgium Public (2.74%)
Various, Various (2.26%)
Luxembourg Public (1.27%)
Bermuda Public (0.13%)
VendorMarstel Holdings Limited
Catley (G S and A E), New Zealand (100.0%)
Background

Stolt-Nielsen Australasia Holdings Pty Limited operates bulk liquid terminals in New Zealand and Australia. The Applicant is acquiring the remaining 30% of the shares which is likely to result in it being more able to fund development projects in New Zealand.

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
17(2)(a)(i) – Jobs
17(2)(a)(v) – Additional investment for development purposes

Overseas Investment Regulations 2005
28(e) – Previous investments
28(g) – Enhance the viability of other investments.

More informationNeil Millar
Minter Ellison Rudd Watts
PO Box 3798
AUCKLAND 1140