| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 21 February 2024 |
| Pathway(s) | Significant business assets only |
| Investment | 100% of the shares in each of:
|
| Consideration | $700,000,000 |
| Applicant | Jarden Seven Limited Australia 39% New Zealand 19% United States of America 15% Various 27% |
| Vendors | National Australia Group (NZ) Limited Bank of New Zealand Jarden Wealth and Asset Management Holdings Limited |
| Background | The Applicant sought consent to acquire shares in various target entities as part of a consolidation of separate, preexisting asset management funds. After consolidation, FirstCape will have approximately $44 billion under management and administration. Funds operated by FirstCape will be focused on wealth advice and asset management businesses for clients in New Zealand. Consent was granted as the Applicant met the investor test criterion. |
| More information | Lance Jones Russell McVeagh PO Box 8 Auckland 1140 |