| Decision |
Consent granted |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 02 June 2023 |
| Pathway(s) | Significant Business Assets National Interest Assessment |
| Investment | Acquisition of 50% of the shares in NZ HoldCo Limited, the parent company of Vector Metering Data Services Limited |
| Consideration / enterprise value | $2,513,000,000 |
| Applicant |
NZ HoldCo Limited, Horizon Infra Trust No. 1 and QGIF II Para Aggregator ScSp. |
| Vendor | Vector Limited |
| Background |
Horizon Infra Trust No. 1 and QGIF II Para Aggregator ScSp have been granted consent to acquire 50% of the shares in NZ HoldCo Limited, the new holding company of Vector Metering Data Services Limited and NZ HoldCo Limited has been granted consent to acquire (though a related company) 100% of the shares in Vector Metering Data Services Limited. Vector Metering Data Services Limited (operating through its subsidiaries) is a provider of smart electricity and gas meter infrastructure in Australia and New Zealand. Vector Limited, the current New Zealand owner (indirectly through certain holding companies) of Vector Metering Data Services Limited, will retain an indirect interest in 50% of the shares of Vector Metering Data Services Limited following the transaction. Both Horizon Infra Trust No. 1 and QGIF II Para Aggregator ScSp. are investment vehicles. They are managed through related companies of QIC Limited, a company created by the Queensland government of Australia to manage long term investments. LINZ are satisfied that the investor test has been met. The Minister of Finance has decided that the investment is not contrary to New Zealand's national interest. |
| More information |
Roger Wallis / Kelly McFadzien Ben Paterson / Ian Beaumont |