| Decision | Consent granted Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 26 February 2024 |
| Pathway(s) | Significant Business Assets |
| Investment | A freehold interest in approximately 5.81 hectares of non-sensitive land at 20 Puaki Drive, Wiri, Auckland |
| Consideration | $110,000,000 |
| Applicant | Eden Puaki Drive Sub Limited Partnership Funds managed and advised by entities associated with BlackRock, comprised of entities which are 90% overseas owned |
| Vendor | GPC Asia Pacific Limited United States of America 100% |
| Background | The Applicant is an institutional investor in industrial assets owned by funds managed and advised by entities associated with BlackRock. The Vendor is a member of the GPC Asia Pacific group, suppling automotive aftermarket and industrial replacement parts in Australia, New Zealand, Indonesia and Singapore. The Vendor is best known in New Zealand for its Repco retail stores. Consent was granted as the Applicant met the investor test criterion. |
| More information | Natalie Steur Russell McVeagh (Auckland) PO Box 8 Auckland 1140 |