| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 25 June 2015 |
| Investment | An overseas investment in significant business assets, being the giving of effect to a series of steps required to restructure the upstream ownership of approximately 51% of Porsche Automobil Holding SE, which ultimately owns 50% of LeasePlan New Zealand Limited, the total value of the assets of LeasePlan New Zealand Limited being greater than $100m. |
| Asset value | $253,870,000 |
| Applicant | Ferdinand Porsche Familien-Privatstiftung Ferdinand Alexander Porsche GmbH Ferdinand Porsche Familien Holding GmbH Austria (100%) |
| Vendor | Entities associated with the Porsche, Piech and Kiesling families Austria (100%) |
| Background | The purpose of the Investment is to consolidate the shareholding of certain family shareholders of Porsche Automobil Holding SE. It is part of a plan to reorganise the direct and indirect Porsche Automobil Holding SE shareholdings of various Porsche and Kiesling family members. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | David Craig Bell Gully PO Box 4199 Auckland 1140 |