Decision Summary - Dorset Management Corporation as Manager of various United States Investment Funds
| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 12 May 2009 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in a further 8.83% of the shares of Rubicon Limited, the value of the assets of Rubicon Limited and its 25% or more subsidiaries being greater than $100m. |
| Consideration | $294,000,000 |
| Applicant | Dorset Management Corporation as Manager of various United States Investment Funds United States of America (100.0%) |
| Vendor | Existing Shareholders of Rubicon Limited other than the various United States Investment Funds United States of America (88.8%), New Zealand (11.2%) |
| Background | The Applicant is investment manager of various United States Investment funds. Collectively these funds beneficially own 19.48% of the issued share capital of Rubicon and are 'associates' of each other for the purposes of the Act. The Investment will result in the funds beneficially owning a total (inclusive of all associated interests) of up to 28.31% of the issued share capital of Rubicon. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Adrien Hunter Chapman Tripp (Auckland) PO Box 2206 AUCKLAND 1140 John Strowger Chapman Tripp (Auckland) PO Box 2206 AUCKLAND 1140 |
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