| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 23 November 2017 |
| Investment | An overseas investment in significant business assets, being the Applicant’s acquisition of 100% of the ordinary shares in Opus International Consultants Limited by way of a full takeover offer under the Takeovers Code, where the consideration for the shares exceeds $100 million. |
| Consideration | $263,235,184 |
| Applicant | WSP NZ Acquisition Limited Canada Public (99.97%) Other Shareholders, Canada (0.03%) |
| Vendor | Opus International Consultants Limited UEM Edgenta Berhad, Malaysia (61.2%) New Zealand Public and Various Entities, New Zealand (35.63%) Australian Public (1.49%) Philippines Public (1.32%) Other Shareholders (0.36%) |
| Background | The Applicant and Vendor are both wholly-owned subsidiaries of separate overseas publicly listed companies that provide engineering consulting services. The Investment aims to combine the two companies’ resources and expertise. The Applicant has satisfied the OIO that the individuals who will control the investment have the relevant business experience and acumen and are of good character. The Applicant has also demonstrated financial commitment to the investment. |
| More information | John Strowger Chapman Tripp PO Box 2206 AUCKLAND 1140 |