| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 15 April 2021 |
| Pathway(s) | Significant business assets and benefit to New Zealand |
| Investment | Acquisition of up to 100% of the shares in Coca-Cola Amatil Limited which has an interest in the following: • Approximately 4.6312 hectares of land located at 677 Marshland Road, Ouruhia, Christchurch; • Approximately 2.2875 hectares of land located at Junction Road, Paeroa; and • Approximately 0.3885 hectares of land located at Carbine Road, Mount Wellington, Auckland. |
| Consideration | Over $100 million (exact amount to be determined) |
| Applicant | Coca-Cola European Partners plc United States of America (41.1%) Spain (37.1%) United Kingdom (5.1%) Various (16.7%) |
| Vendor | The shareholders of Coca-Cola Amatil Limited United States of America (42.4%) Australia (28.6%) United Kingdom (5.8%) Ireland (2.5%) Norway (1.2%) Various (19.3%) |
| Background | The Applicant is the authorised bottler and distributor of The Coca-Cola Company’s (Coca Cola’s) beverage brands throughout Western Europe. The target, Coca-Cola Amatil Limited bottles and distributes Coca-Cola’s beverage brands in Australia, New Zealand, Fiji, Indonesia, Papua New Guinea and Samoa. It operates from various sites in New Zealand. Three of the sites are sensitive because the land is residential. The Applicant is looking to expand its business into the southern hemisphere by acquiring the target. The target is listed on the ASX and the acquisition will occur by way of a scheme of arrangement and other arrangements with The Coca-Cola Company. This is a multi-national takeover of an Australian company, where the New Zealand assets make up a minority portion. The Applicant intends to operate the target’s New Zealand business in largely the same way as it has been to date, but will also add value through job creation, investment in the target’s manufacturing facilities and by implementing further/enhanced environmental protections. |
| More information | Annie Steel Harmos Horton Lusk PO Box 28 Shortland Street AUCKLAND |