| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 18 January 2016 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 100% of the shares of the shares of Fastway Limited, the consideration of which exceeds $100m. |
| Consideration | $125,277,000 |
| Applicant | Aramex New Zealand Holdings Limited Aramex PJSC, United Arab Emirates (100.0%) |
| Vendor | Existing shareholders of Fastway Limited New Zealand Public (71.41%) Australian Public (16.77%) Monaco Public (11.65%) United Kingdom Public (0.17%) |
| Background | The Applicant’s parent Group (Aramex) is a global provider of comprehensive logistics and transportation solutions and operates a franchisee courier system across a number of locations around the world. Aramex and intends to incorporate the Fastway business into its global business. Aramex’s current intention is to retain the employees of Fastway and invest further to grow the Fastway business. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Graeme Quigley/Joy Yoon Russell McVeagh PO Box 8 AUCKLAND |