Overseas investment decision for case 202400605 - CC Maverick Pte. Ltd. | Toitū Te Whenua - Land Information New Zealand

Applicant: CC Maverick Pte. Ltd.
Case number(s): 202400605
Decision date: 16 Dec 2024
Type: Decision

Decision	Consent granted Section 13(1)(c) Overseas Investment Act 2005
Decision maker	Toitū Te Whenua Land Information New Zealand
Decision date	16 December 2024
Pathways	Significant business assets National interest assessment
Investment	Acquisition of a commercial building on approximately 4,787 sqm of land located at 30 Daldy Street, Auckland Central
Consideration	Withheld under section 9(2)(b)(ii) of the Official Information Act 1982 ^1,²
Applicant	CC Maverick Pte. Ltd. United Arab Emirates 24% Singapore 18% Canada 15% South Korea 12% North America Region 9% Hong Kong, (SAR China) 7% Azerbaijan 6% Various 9%
Vendor	Mansons BDGP Limited New Zealand 100%
Background	The Applicant is a newly formed Singaporean special purpose vehicle ultimately owned by a fund managed by PAG, an alternative investment management firm in the Asia Pacific region. The land is currently being developed by the Vendor into a 7-level commercial building with associated retail, carparking and other amenities. The land is not sensitive under the Act. The commercial building will be leased to third parties. This application was subject to a national interest assessment because the Applicant is considered a non-New Zealand Government investor due to the extent of some government investors from the United Arab Emirates and South Korea. The Minister of Finance has decided that the Investment is not contrary to New Zealand’s national interest. Consent was granted as the Applicant has met the investor test criterion.
More information	Andrew Petersen Bell Gully PO Box 4199 AUCKLAND 1140

1. Withheld under section 9(2)(b)(ii) of the Official Information Act 1982

2. Withheld under section 9(2)(b)(ii) of the Official Information Act 1982