Overseas investment decision for case 201120017 - Holcim (New Zealand) Limited | Toitū Te Whenua

Applicant: Holcim (New Zealand) Limited
Case number(s): 201120017
Decision date: 6 Nov 2011
Type: Decision

Decision	Consent granted Section 12(a) Overseas Investment Act 2005
Decision date	7 November 2011
Investment	An overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in 2.2600 hectares of land at Evans Bay, Timaru.
Consideration	CONFIDENTIAL
Applicant	Holcim (New Zealand) Limited Swiss Public (23.0%) Capital Group Limited, United States of America (21.0%) Various overseas persons (21.0%) Schmidheiny (Thomas), Switzerland (18.0%) United States Public (10.0%) Eurocement Holding AG, Switzerland (7.0%)
Vendor	PrimePort Timaru Limited Timaru District Council, New Zealand (71.0%) Port Industry Holdings Limited, New Zealand (29.0%)
Background	The Applicant's investment in the Port of Timaru by way of the lease and associated wharf and cement/clinker storage facility development is a critical part of the Applicant's potential development of a new cement plant at Weston, North Otago. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'benefit to New Zealand' criterion was satisfied by particular reference to the following factors: Overseas Investment Act 2005 17(2)(a)(i) – Creation/Retention of jobs 17(2)(a)(iv) – Added market competition/productivity 17(2)(a)(v) – Additional investment for development purposes 17(2)(a)(vi) – Increased processing of primary products Overseas Investment Regulations 2005 28(e) – Previous investments 28(g) – Enhance the viability of other investments 28(j) – Mitigating Factor
More information	Tim Barclay Anthony Harper Lawyers PO Box 2646 AUCKLAND 1146

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