| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 7 October 2020 |
| Pathway(s) | Significant business assets only |
| Investment | An overseas investment in significant business assets, being the Applicant’s acquisition of securities that results in a more than 25% ownership interest in a person whose assets exceeds $100 million. |
| Consideration | The investment involves the acquisition of 5,569,620 new shares issued by Weta Digital Limited, the value of whose assets exceeds $100,000,000, resulting in the Applicant and associated persons owning almost one third of the shares. |
| Applicant | Weta Holdings, LLC United States of America (100%) |
| Vendor | Weta Digital Limited New Zealand (77.04%) United States of America (22.96%) |
| Background | Weta Digital is raising additional capital to grow its visual effects business. The Applicant is a company associated with US entrepreneur and investor, Sean Parker. 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 | Martin Wiseman DLA Piper PWC Tower, Level 15 15 Customs Street West Auckland |