Decision | Consent granted |
|---|---|
Decision Maker | Overseas Investment Office |
Decision Date | 2 July 2021 |
Pathway(s) | Significant business assets only |
Investment | An overseas investment in significant business assets, being the Applicant’s acquisition of rights or interests in up to 100% of the shares in Jamestrong Investment Holding Limited (Hong Kong Company Registry no. 2174152) |
Consideration | Approximately $103 million (being the value of the New Zealand based assets as at 31 January 2021). |
Applicant | ORG International Holdings Limited |
| Vendor | Orient Smart Industrial Group Limited People’s Republic of China (100%) |
| Background | The Applicant, ORG International Holdings Limited (“ORG”), is a large-scale packaging solutions provider, with a main focus on food and beverage products packaged in metal cans. It has entered into an agreement to acquire 100% of the shares of Jamestrong Investment Holding Limited (“Target”) from the Vendor, Orient Smart Industrial Group Limited (“Orient”). The Target is an Australasian manufacturer of packaging, specialising in metal cans. Jamestrong Packaging NZ Limited is the New Zealand subsidiary of the Target. The Vendor (Orient) is a related party of the Applicant (ORG), sharing an ultimate beneficial owner, Shanghai Yuanlong Investment Holdings Group Co., Limited (“Yuanlong”). Yuanlong owns 37.05% of ORG and 100% of Orient. Yuanlong is a family-owned, non-government owned investment company, specialising in industrial investments. The Applicant has satisfied the investor test criteria. |
| More information | Tim Tubman PO Box 2206 AUCKLAND 1140 |