Carriage New Zealand Limited, Carriage Holdings New Zealand Limited, Next Capital Fund IIA, Next Capital Fund IIB & Next Capital Pty Limited
| Decision | Consent granted Section 12(b) Overseas Investment Act 2005 |
|---|---|
| Decision date | 13 April 2012 |
| Investment | An overseas investment in sensitive land, being Carriage New Zealand Limited’s (one of the entities comprising the Applicant) acquisition of rights or interests in 100.0% of the shares of Go-Bus Holdings Limited which owns or controls: |
| Consideration | CONFIDENTIAL |
| Applicant | Carriage New Zealand Limited, Carriage Holdings New Zealand Limited, Next Capital Fund IIA, Next Capital Fund IIB & Next Capital Pty Limited Australia (100%) |
| Vendor | Shareholders of Go-Bus Holdings Limited |
| Background | The Applicants intend to provide additional capital sufficient to support the expansion of Go-Bus Holdings Limited’s bus services within existing and new regions of New Zealand. 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 of jobs - 17(2)(a)(iv) – Added market competition/greater efficiency or productivity Overseas Investment Regulations 2005 - 28(e) – Previous investments - 28(f) – Advance significant government policy or strategy |
| More information | Cathy Quinn Minter Ellison Rudd Watts (Auckland) PO Box 3798 AUCKLAND 1140 |
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