| Decision | Consent granted Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision date | 16 March 2015 |
| Investment | An overseas investment in significant business assets, being the Applicant’s acquisition (in a series of two linked transactions) of property in New Zealand (being a freehold interest in 0.5365 hectares at 19 Aitken Street, Wellington) where the total value of the consideration exceeds $100m. |
| Consideration | $161,873,369 |
| Applicant | Aitken Street Real Estate Netherlands B.V. & Credit Suisse Funds AG Swiss Public (99.3%) Other Investors, Various (0.7%) |
| Vendor | AMP Capital Property Portfolio Limited New Zealand Public and Various Entities, New Zealand (70.3%) New Zealand Superannuation Fund, New Zealand (29.69%) AMP Capital (New Zealand) Limited, New Zealand (0.01%) |
| Background | In November 2012 the Applicant acquired an undivided one half share in 19 Aitken Street, Wellington, and obtained a right of pre-emption over the Vendor’s remaining half share as set out in a co-owners’ deed. On 21 August 2014 the Applicant accepted the Vendor’s offer to sell the remaining half share to the Applicant. |
| More information | Silvana Schenone Minter Ellison Rudd Watts PO Box 3798 AUCKLAND 1140 |