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| Decision | Consent granted Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 6 May 2022 |
| Pathway(s) | Significant business assets only National Interest assessment |
| Investment | The acquisition of additional shares in Aramex PJSC by the Applicant, to increase its existing interest from 24.93% to 28%. |
| Consideration | $85,957,865 |
| Applicant | GeoPost SA France (100%) |
| Vendor | Existing shareholders of Aramex PJSC France (24.93%) United Arab Emirates (22.24%) Canada (5.33%) United States (4.82%) Norway (3.42%) Singapore (1.87%) Various (38.38%) |
| Background |
Aramex PJSC (Aramex) is an Emirati multinational logistics, courier and package delivery company based in Dubai United Arab Emirates. It is a global provider of comprehensive logistics and transportation solutions and operates a franchisee courier system globally. Aramex owns Aramex NZ a courier services provider whose network includes 18 regional franchises and over 280 franchise partners across New Zealand. In 2021 the Applicant acquired 24.93% of the shares in Aramex. Consent was not required for this transaction as it was below the 25% threshold which requires consent. The Applicant has satisfied the OIO that the investor test has been met. |
| More information | Glenn Shewan Bell Gully (Auckland) Level 21, Vero Centre 48 Shortland Street Auckland 1010 |