| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 14 January 2022 |
| Pathway(s) | Significant business assets only |
| Investment | The acquisition of the remaining 30% of the issued shares in New Zealand Wool Holdings Limited (the applicant already owns 70% of the issued shares). |
| Asset Value | Withheld under s9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Woolscour Holdings Limited Australia (50%); New Zealand (50%) |
| Vendor | Scouring Investments Limited China (79.49%); Japan (13.92%); Australia (6.59%) |
| Background | The Applicant’s sole business has been to hold shares in New Zealand Wool Holdings. The Applicant is 50% owned by TCP 1A Pty Ltd (part of the Australian investment firm, Tanarra Capital), and 50% owned by Ferrier Woolscours (a New Zealand company long involved in the woolscour industry). The Applicant is increasing its shareholding in the Vendor’s company from 70 to 100%. The Target is the parent company of the Woolworks woolscouring business. The business comprises New Zealand’s three operational woolscours in Hawkes Bay and Canterbury. The scours operate as commission woolscours, scouring 75% of New Zealand’s wool for local and export customers. The Applicant has satisfied the investor test criterion. |
| More information | Daniel Wong Flacks & Wong PO Box 591 Auckland 1140 |