| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 Section 13(1)(b) Overseas Investment Act 2005 Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 18 October 2016 |
| Investment | An overseas investment in sensitive land, being the Applicant’s acquisition of a leasehold interest in approximately 1,700 hectares of land for the purpose of constructing and maintaining the Pūhoi to Warkworth Road. An overseas investment in significant business assets, being the Applicant’s acquisition of leasehold rights where the consideration for such rights exceeds $100 million and the establishment of a business in New Zealand where the total expenditure required before commencing business exceeds $100 million. |
| Consideration | In excess of $100,000,000 |
| Applicant | NX2 LP, NX2 Hold LP, NX2 GP Limited and NX2 Hold GP Limited, collectively the NX2 Consortium Accident Compensation Corporation, New Zealand (38.3%) Public Infrastructure Partners II LP, New Zealand (38.3%) ACCIONA S.A., Spain (10.0%) Fletcher Building Limited, Various (13.4%) |
| Vendor | New Zealand Transport Agency New Zealand Government, New Zealand (100%) |
| Background | The Applicant is acquiring a leasehold interest in approximately 1,700 hectares of land for the purpose of constructing and maintaining the Pūhoi to Warkworth Road which forms part of the New Zealand Government’s “Roads of National Significance” programme. The Applicant was chosen by the New Zealand Transport Agency as the preferred bidder to undertake the project. The project will be undertaken through a public private partnership whereby the Applicant will be required to:
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 | Chris Bargery |