| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 14 July 2021 |
| Pathway | Significant business assets only |
| Investment | Acquisition of 100% of the shares in LeasePlan New Zealand Limited |
| Consideration | Approximately $69,700,000 (in relation to gross assets in excess of $100,000,000) |
| Applicant | SG Fleet NZ Limited Various (96.42%) South Africa (3.58%) |
| Vendors | LeasePlan Corporation N.V. United Kingdom (41.85%) United Arab Emirates (20.26%) Singapore (19.47%) Denmark (9.21%) Netherlands (7.89%) United States of America (1.32%) |
| Background | The Applicant is a provider of fleet management, vehicle leasing and salary packaging services in New Zealand. It provides a full suite of outsourced fleet solutions to both the government and corporate sector. The Applicant is seeking consent to acquire 100% of the shares in LeasePlan New Zealand Limited (LeasePlan). LeasePlan is an automobile leasing and fleet management company. This proposed acquisition is part of a larger transaction whereby the indirect ultimate owner of the Applicant will also acquire 100% of the shares in LeasePlan Australia Limited (also an automobile leasing and fleet management company). The Applicant has satisfied the investor test criterion |
| More information | Michael Pollard Simpson Grierson Private Bag 92518 AUCKLAND 1141 |