| Decision | Consent granted Section 12(b) Overseas Investment Act 2005 Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 15 April 2020 |
| Pathways | Significant business assets Sensitive land – benefit to New Zealand |
| Investment | An overseas investment in significant business assets and sensitive land, being the Applicant's acquisition of all issued shares in Emergent Cold Topco Pty Limited, the consideration of which exceeds $100 million, which indirectly owns or controls a freehold interest in approximately 0.8078 hectares of land at 820 Breakwater Road, State Highway 50. |
| Consideration | $155,000,000 |
| Applicant | Lineage Logistics Holdings, LLC United States (98.02%) Various overseas persons (1.98%) |
| Vendor | Emergent UK 3 Ltd United States (73.7672%) Cayman Islands (12.081%) Canada (3.5573%) Various (3.1191%) Guernsey (2.5434%) Ireland (1.7786%) United Kingdom (1.1084%) Switzerland (1.0225%) Finland (1.0225%) |
| Background | The Applicant sought consent to acquire all issued shares in Emergent Topco Pty Limited a provider of cold-chain logistics services and supply chain solutions. This acquisition would provide the Applicant with an indirect interest in 4 New Zealand entities which own cold storage facilities across New Zealand, one of which has an interest in sensitive land. The Applicant intends to undertake upgrades on some of the facilities acquired. The benefits to New Zealand occurring as a result of the Investment include the introduction into New Zealand of at least $1.65 million and the creation of at least 10 permanent full-time jobs. |
| More information | Joe M Windmeyer/Lance Jones Russell McVeagh PO Box 8 Auckland 1140 |