| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 03 June 2025 |
| Pathway | Significant business assets only |
| Investment | Acquisition of approximately 80.6% of the shares in Pro-invest NZ Hospitality Fund Limited |
| Asset value | $117,500,000 |
| Applicant | Mourant Trustees (Cayman) Limited as trustee of the Pro-invest ANZ Hotels Parallel Fund 1 Asia 35% United Arab Emirates 19% Singapore 17% Cayman Islands 7% South Korea 5% North America 2% Various 15% |
| Vendors | Pro-Invest Australian Opportunities Offshore Feeder Fund L.P. Pro-Invest Australian Hospitality Asset One |
| Background | Pro-invest ANZ Hotels Parallel Fund is a newly formed special purpose vehicle that is ultimately owned by certain funds managed by Singaporean investment firm Aquilius Investment Partners Pte Limited. It is acquiring a majority interest in Pro-invest NZ Hospitality Fund Ltd which invests in, develops and operates hotels and commercial property. Pro-invest NZ Hospitality Fund Ltd has indirect interests in Holiday Inn Express & Suites Queenstown. Consent was granted as the Applicant has met the investor test criterion. The Minister of Finance has decided that the investment is not contrary to New Zealand’s national interest. |
| More information | Tom Jemson Chapman Tripp (Wellington) PO Box 993 Auckland 6140 |
1 This is the approximate minimum interest held by each country of ownership because the exact nature of upstream ownership is to be finalised. The ownership by country and region will be determined when one of four proposed investment scenarios is executed.