| Decision | Consent granted Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 15 November 2016 |
| Investment | An overseas investment in significant business assets, being the Applicant’s acquisition of rights or interests in up to a further 13.54% of the issued share capital of Tru-Test Corporation Limited in one or more transactions, resulting in the Applicant controlling up to 49% of the issued share capital of Tru-Test Corporation Limited, the value of the assets of Tru-Test Corporation Limited and its 25% or more subsidiaries being greater than $100m. |
| Consideration | Partnership interest in the Applicant as consideration for the transfer shares |
| Applicant | KTT Limited Partnership Australia 93.66% New Zealand 3.26% United Kingdom 3.08% |
| Vendor | Ashweir Limited Australia (100%) |
| Background | The Applicant considers that the increased investment in Tru-Test Corporation Limited (TTC), an agricultural technology company will further facilitate TTC’s strategy of continued technological development, innovation, job growth and export growth. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Andrew Macdonald Hornabrook Macdonald PO Box 91845 AUCKLAND |