| Investment |
Consent 201510029
An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in 100% of the shares of Cheung Kong (Holdings) Limited which owns or controls:
- a freehold interest in approximately 2.6705 hectares of land at Auckland Collections Branch and Constellation Drive Refuse Transfer Station; and
- a leasehold interest in approximately 0.3015 hectares of land at Auckland Collections Branch and Constellation Drive Refuse Transfer Station; and
- a freehold interest in approximately 123.2446 hectares of land at Bonny Glen Landfill; and
- a freehold interest in approximately 15.0524 hectares of land at Greenmount Landfill and Auckland Municipal Branch; and
- a leasehold interest in approximately 40.1221 hectares of land at Greenmount Landfill and Auckland Municipal Branch; and
- a leasehold interest in approximately 362.1566 hectares of land at North Waikato Regional Landfill; and
- a freehold interest in approximately 211.5710 hectares of land at North Waikato Regional Landfill; and
- a freehold interest in approximately 0.4522 hectares of land at Rosedale Road Landfill; and
- a freehold interest in approximately 1.0582 hectares of land at Patiki Road Refuse Transfer Station; and
- a freehold interest in approximately 6.6925 hectares of land at Tauranga Refuse Transfer Station; and
- a leasehold interest in approximately 0.3580 hectares of land at EnviroWaste Gisborne Branch; and
- a freehold interest in approximately 0.4046 hectares of land at Chemwaste Christchurch Branch; and
- a freehold interest in approximately 360.7920 hectares of land at Crownthorpe Vineyard, 1370 Matapiro Road, Crownthorpe, Hawkes Bay; and
- a freehold interest in approximately 200.5190 hectares of land at Dashwood Vineyard, Redwood Pass, Marlborough; and
- a freehold interest in approximately 142.1080 hectares of land at Rarangi Vineyard, 53 Flaxmill Drive, Rarangi, Marlborough; and
- a freehold interest in approximately 1629.6409 hectares of land at Cheetham Salt, Lake Grassmere, Marlborough; and
- a leasehold interest in approximately 116.9600 hectares of land at Northbank Vineyard, Awatere Valley, Marlborough; and
- a freehold interest in approximately 116.7018 hectares of land at Woolshed Vineyard, Renwick, Marlborough; and
- a freehold interest in approximately 81.1909 hectares of land at Home Vineyard, Glasnevin Road, Waipara, Canterbury; and
- a freehold interest in approximately 104.4061 hectares of land at Deans Vineyard, 596 Georges Road, Waipara, Canterbury; and
- a freehold interest in approximately 101.2689 hectares of land at The Mound Vineyard, Georges Road, Waipara, Canterbury; and
- a freehold interest in approximately 194.7424 hectares of land at Claim Vineyard, Bendigo Loop Road, Bendigo, Central Otago.
An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 100% of the shares of Cheung Kong (Holdings) Limited, the value of the assets of Cheung Kong (Holdings) Limited and its 25% or more subsidiaries being greater than $100m.
Consent 201510032
An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in 50.03% of the shares of Hutchison Whampoa Limited which owns or controls:
- a leasehold interest in approximately 0.3015 hectares of land at Auckland Collections Branch and constellation Drive Refuse Transfer Station; and
- a freehold interest in approximately 2.6705 hectares of land at Auckland Collections Branch and constellation Drive Refuse Transfer Station; and
- a freehold interest in approximately 123.2446 hectares of land at Bonny Glen Landfill; and
- a freehold interest in approximately 15.0524 hectares of land at Greenmount Landfill and Auckland Municipal Branch; and
- a leasehold interest in approximately 40.1221 hectares of land at Greenmount Landfill and Auckland Municipal Branch; and
- a freehold interest in approximately 211.5710 hectares of land at North Waikato Regional Landfill; and
- a leasehold interest in approximately 362.1566 hectares of land at North Waikato Regional Landfill; and
- a freehold interest in approximately 0.4522 hectares of land at Rosedale Road Landfill; and
- a freehold interest in approximately 1.0582 hectares of land at Patiki Road Refuse Transfer Station; and
- a freehold interest in approximately 6.6925 hectares of land at Tauranga Refuse Transfer Station; and
- a leasehold interest in approximately 0.3580 hectares of land at EnviroWaste Gisborne Branch; and
- a freehold interest in approximately 0.4046 hectares of land at Chemwaste Christchurch Branch.
An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 50.03% of the shares of Hutchison Whampoa Limited, the value of the assets of Hutchison Whampoa Limited and its 25% or more subsidiaries being greater than $100m.
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| Background |
The Investment is a restructuring of the corporate structure and shareholdings of Cheung Kong (Holdings) Limited and Hutchison Whampoa Limited, Hong Kong based companies.
After completion of the Investment, the Applicant will be the new holding company of the Cheung Kong Group, which has interests in property, hotels, banking, energy, ports and shipping, aviation, telecommunications, retailing and various kinds of infrastructure investments worldwide.
The overseas investment transaction has satisfied the criteria in sections 16 and 18 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors:
Overseas Investment Regulations 2005
28(b) – Key person in a key industry
28(c) – Affect image, trade or international relations
28(e) – Previous investments
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