| Decision | Consent granted Section 12(b) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 10 October 2019 |
| Pathway | Sensitive land – benefit to New Zealand |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of up to 100% of the shares in Merlin Entertainments plc which indirectly owns or controls a leasehold interest in 0.9520 hectares of land at 23 Tamaki Drive, Orakei. |
| Asset Value | $23,000,000 |
| Applicant | Motion Acquisition Limited KIRKBI A/S, Denmark (50.00%) Blackstone Core Equity Partners, United States (31.25%) Canadian Pension Plan Investment Board, Canada (18.75%) |
| Vendor | Shareholders of Merlin Entertainments plc KIRKBI A/S (29.64%) Valueact Capital Master Fund, United States of America (12.30%) United States Public (10.04%) Wellcome Trust Limited, United States of America (5.37%) Merlin Entertainments Group Share Plan Nominee Limited, United Kingdom (1.92%) Various overseas persons (40.73%) |
| Background | Motion Acquisition proposes to acquire up to 100% of Merlin in a transaction occurring entirely upstream of the New Zealand assets (which form less than 1% of the total transaction). Motion Acquisition has committed to introducing investment capital into New Zealand to develop a new exhibit at Kelly Tarlton’s which is expected to create at least one job and produce additional export receipts. Motion Acquisition Limited (Motion Acquisition) is a consortium created for the purposes of completing this transaction. The consortium consists of KIRKBI Invest A/S, Blackstone Core Equity Partners (a private equity firm) and the Canadian Pension Plan Investment Board. Merlin Entertainments plc (Merlin) is a UK-headquartered, global family entertainment company operating over 130 attractions, 20 hotels and 6 holidays villages in 25 countries. Merlin indirectly owns Auckland Aquariums Limited which leases land in Auckland to operate Kelly Tarlton’s SEA LIFE Aquarium (Kelly Tarlton’s). The Applicant has satisfied the OIO that the individuals who will control the investment have the relevant business experience and acumen and are of good character. The Applicant has also demonstrated financial commitment to the investment. |
| More information | Simon Peart Chapman Tripp PO Box 993 WELLINGTON 6140 |