| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua LINZ |
| Decision date | 29 April 2024 |
| Pathway(s) | Sensitive land – Benefit test |
| Investment | Acquisition of a freehold interest in approximately 6.5278 hectares of land at 7 Parakawau Road, Ohau and approximately 0.7726 hectares of land at 54 Patiki Road, Rosebank Peninsula, Auckland |
| Consideration | $8,190,000 |
| Applicant | Holcim (New Zealand) Limited Switzerland 42% North America Region 24% United Kingdom 9% Europe Region 9% Various 16% |
| Vendor | AML Limited New Zealand 50% Switzerland 21% North America Region 12% Various 17% |
| Background | The Applicant is a subsidiary of Swiss construction materials company, Holcim Limited. The Applicant is a supplier of ready mixed concrete, aggregates, and cement in New Zealand. The land is currently used in the Vendor’s ready mixed concrete business. The Applicant will continue these operations under their own brand and invest in upgrades to the land. The main benefits to New Zealand are likely to include additional capital expenditure and increased competition, particularly for Auckland. Consent was granted as the Applicant has met the investor test criterion and the investment is likely to benefit New Zealand. |
| More information | Ben Paterson Russell McVeagh (Auckland) PO Box 8 Auckland 1140 |