| Decision | Consent granted Section 12(b) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 31 October 2019 |
| Pathway(s) | Sensitive land – benefit to New Zealand |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of 100% of the shares in InMotion Group Limited which holds a leasehold interest in 1.5921 hectares of land at 380 Ti Rakau Drive, East Tamaki. |
| Consideration | $31,500,000 |
| Applicant | Transdev New Zealand Limited Caisse des depots et cosignations, France (66.0%) Georg Rethmann, Germany (8.5%) Ludger Rethmann, Germany (8.5%) Klemens Rethmann, Germany (8.5%) Martin Rethmann, Germany (8.5%) |
| Vendor | Souter H&E Limited, William Rae and Treena Martin United Kingdom Public (99.125%) New Zealand Public (0.87%) |
| Background | The Applicant is a New Zealand subsidiary of Transdev Group S.A, which is a global provider of public transport services. InMotion Group is the parent company of Howick and Eastern Buses Limited, which operates bus services for the Auckland public under service contracts with Auckland Transport. Under these contracts, Howick and Eastern Buses has a leasehold interest (through a subsidiary) in a bus depot in East Tamaki, which constitutes sensitive land under the Act. The Applicant intends to continue to operate the bus depot on this land, with its tenure under the lease being subject to continued service contracts with Auckland Transport. The Applicant’s investment plan includes spending $400,000 per year over a 5-year period on development initiatives for its employees and digitising the existing systems used by Howick and Eastern Buses. |
| More information | Tara Wylie Simpson Grierson Private Bag 92518 AUCKLAND 1141 |