| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 11 January 2016 |
| Investment | An overseas investment in significant business assets, being the Applicant's indirect acquisition of rights or interests in up to 100% of the shares of LeasePlan New Zealand Limited (“LeasePlan NZ”) which is valued at over $100 million, through the Applicant’s acquisition of up to 100% of the shares of LeasePlan NZ’s parent company, LeasePlan Corporation N.V. |
| Asset Value | $279,400,000 (LeasePlan NZ’s gross assets as at 31 December 2014) |
| Applicant | LP Group B.V. TDR Capital LLP, United Kingdom (41.85%) Abu Dhabi Investment Authority, Abu Dhabi (20.26%) GIC (Ventures) Pte Limited, Singapore (19.47%) Arbejdsmarkedets Tillaegspension, Denmark (9.21%) PGGM N.V., Netherlands (7.89%) The Goldman Sachs Group Inc, United States of America (1.32%) |
| Vendor | Global Mobility Holding B.V. Volkswagen AG, Germany (50.0%) Friedrich von Metzler, Germany (50.0%) |
| Background | LeasePlan NZ specialises in vehicle leasing and fleet management. The Applicant intends to make a longterm investment in LeasePlan NZ. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Tim Williams Chapman Tripp PO Box 2206 AUCKLAND |