| Decision | Consent granted |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 7 June 2018 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 100.0% of the shares of Pengxin Holdings (HK) Company Limited, the value of the assets of Pengxin Holdings (HK) Company Limited and its 25% or more subsidiaries being greater than $100m. |
| Consideration | $62,379,000 |
| Applicant | Ze Xin Investment Pte. Limited |
| Vendor | Zhaobai Jiang |
| Background | The Applicant’s parent company Shanghai Hengda (Group) Company Limited has management experience in a number of residential and commercial property developments across China. The sole assets of Pengxin Holdings (HK) Company Limited are two buildings located in central Auckland. 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 | Mark Nicholson |