| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 22 March 2019 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 100% of the ordinary shares of Antelliq Corporation, the consideration of which exceeds $100,000,000. |
| Consideration | Forming part of a large upstream transaction, the New Zealand portion is estimated to be in excess of $100,000,000 |
| Applicant | Merck Sharp & Dohme Corp. United States Public (84.94%) European Public (13.08%) Asia Pacific (1.88%) Middle Eastern Public (0.09%) South American Public (0.01%) |
| Vendor | Shareholders of Antelliq Corporation Channel Islands Public, Channel Islands (92.17%) Various overseas persons (7.83%) |
| Background | The Applicant is a wholly owned subsidiary of Merck & Co., Inc., a global healthcare company. The Applicant and its parent are registered in the United States. Merck & Co., Inc. is listed on the New York and Paris stock exchanges. The Investment involves the Applicant’s acquisition of 100% of the shares in Antelliq Corporation. Antelliq Corporation is a global animal intelligence business with around 70 subsidiaries. Three of these subsidiaries are registered in New Zealand, namely Allflex New Zealand Limited, SureFlap (NZ) Limited, and Putexin Investments Limited. Allflex designs, develops, manufactures and delivers solutions for animal identification and monitoring, farm management, and traceability. SureFlap develops, manufactures and designs a range of smart petcare products, including microchip pet doors and smart feeders. Putexin is not currently in active business. The Applicant intends to use Antelliq Corporation to grow the animal health sector of its business. 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 | Joshua Pringle Chapman Tripp PO Box 2206 AUCKLAND 1140 |