| Decision | Consent granted Section 12(b) Overseas Investment Act 2005 Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 23 March 2016 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in 100% of the shares of NZP Holdings Limited which owns or controls a freehold interest in approximately 13ha of land at 68 Weld Street, Palmerston North. An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 100% of the shares of NZP Holdings Limited, the consideration of which exceeds $100m. |
| Consideration | $250,000,000 |
| Applicant | Elviti Finance Limited Australian Public (27%) New Zealand Public (25%) United States Public (14%) Canadian Public (11%) Various overseas persons (23%) |
| Vendor | Existing shareholders of NZP Holdings Limited New Zealand Public (91.13%) Japanese Public (8.85%) Australian Public (0.02%) |
| Background | The Applicant intends to partner with existing management to grow NZP Holdings Limited’s position as a leader in the pharmaceutical sector, through investing in manufacturing infrastructure and staff to facilitate business growth. 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 Act 2005 Overseas Investment Regulations 2005 |
| More information | Andrew Petersen/Elena Chang Bell Gully PO Box 4199 AUCKLAND 1140 |
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