Applicant
Bowen Investment Limited Partnership and CC Aeolus Pte. Ltd.
Case number(s)
202300043
Decision date
Type
Decision
Decision

Consent granted 
Section 13(1)(c) Overseas Investment Act 2005

Decision maker Toitū Te Whenua Land Information New Zealand
Decision date 27 March 2023
Pathway(s) Significant Business Assets only
Investment An overseas investment in significant business assets, being the acquisition by Bowen Investment Limited Partnership of the land and buildings at 40 & 44 Bowen St, Wellington; and the right to acquire PPNZ Bowen Investments Limited’s 20% interest in Bowen Investment Limited Partnership and all of the shares in Bowen Investment GP Limited, by CC Aeolus Pte. Ltd.
Consideration $240,000,000
Applicant

Bowen Investment Limited Partnership and CC Aeolus Pte. Ltd.
Germany (55.58%)
USA (11.24%)
New Zealand (10.88%)
UK (5.61%)
United Arab Emirates (3%)
Various (13.69%)

Vendor Precinct Properties Holdings Limited
New Zealand (54.38%)
United Arab Emirates (15%)
USA (7.78%)
Australia (4.65%)
Various (18.19%)
Background

Both Bowen Investment Limited Partnership and CC Aeolus Pte. Ltd. are newly formed entities formed to hold the interests they will acquire as a result of this transaction. 

Bowen Investment Limited Partnership is 80% owned by CC Aeolus Pte. Ltd. and 20% held by PPNZ Bowen Investment Limited’s, which is part of the Precinct properties group. 

Withheld under s9(2)(b)(ii) of the Official Information Act 1982 

As a result of this transaction: 

  1. CC Aeolus Pte. Ltd. will own up to 100% of the Bowen Investment Limited Partnership and Bowen Investment GP Limited; and 
  2. Bowen Investment Limited Partnership will own the land and buildings at 40 & 44 Bowen St, Wellington which it is acquiring as a commercial investment. 

LINZ granted consent as it considered the Applicants have met the investor test criterion  

More information

Andrew Petersen
Bell Gully
PO Box 4199
Auckland 1140