| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 26 January 2016 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in up to 100% of the shares of New Zealand Oil & Gas Limited, the consideration of which exceeds $100m. |
| Consideration | To be advised once Takeover Offer is made |
| Applicant | Zeta Resources Limited General Provincial Life Pension Fund (L) Limited, Malaysia (46.5036%) Various overseas persons (21.7884%) Various Public, Various (18.7%) Foreign & Colonial Asset Management clients, United Kingdom (9.5121%) ICM Limited, Bermuda (3.4959%) |
| Vendor | Existing Shareholders in New Zealand Oil & Gas Limited |
| Background | The Applicant is an investor in the natural resources sector, particularly oil and gas. It intends to make a Takeover Offer to the shareholders of New Zealand Oil & Gas Limited in order to expand its investment portfolio. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Gerald Fitzgerald Kensington Swan PO Box 10246 Wellington 6143 |