| Decision | Consent granted Section 13(1)(a) or (c) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 21 April 2022 |
| Pathway(s) | Significant business assets only |
| Investment | An indirect interest in significant business assets in New Zealand (being a commercial office park comprising of 6.2272 hectares ((more or less)) located at 666 Great South Road, Greenlane, Auckland). |
| Asset Value or Consideration | Not applicable, conducting internal corporate restructure |
| Applicant | KKR Aubergine Inc USA (18.6%); Various regions (81.4%) |
| Vendor | KKR & Co. Inc. USA (18.6%); Various regions (81.4%) |
| Background |
KKR, a global asset management firm, owns a New Zealand asset and are conducting an internal corporate restructure which has triggered the need for consent under the Overseas Investment Act. The asset is land comprising of 6.22 hectares located at 666 Great South Road, Greenlane, Auckland. The asset is run as an office park. This land is not sensitive land under the Act, but given its value it constitutes a significant business asset. The applicant states that the reorganisation would bring changes to the topside of the corporate holding structure of KKR, which will not affect the day-to-day control of the asset. The Applicant has satisfied the investor test criterion. |
| More information | Matthew Olsen Mayne Wetherell Level 5 Bayleys House 30 Gaunt Street Auckland |