| Decision | Consent Granted |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 17 January 2020 |
| Pathway(s) | Significant Business Assets |
| Investment | An overseas investment in significant business assets, being the Applicant’s acquisition of the Vendor’s fibre business assets, which has a value of greater than $100 million. |
| Consideration | Approximately $426,000,000 |
| Applicant | Opal Packaging New Zealand Limited |
| Vendor | Orora Limited Orora Packaging New Zealand Limited |
| Background | The Applicant is a subsidiary of Paper Australia Pty Ltd. Both are subsidiaries of the larger Nippon Paper Group, who is a leading, diversified, international timber, pulp, paper, paperboard packaging, and chemicals business. The Applicant has applied for consent to purchase the New Zealand fibre businesses owned by Orora Packaging New Zealand Limited, and the Applicant intends to continue the operations of the New Zealand fibre businesses in the ordinary course. 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 | Glenn Shewan |