Section 13(1)(c) Overseas Investment Act 2005
|Decision Maker||Overseas Investment Office|
|Decision Date||6 May 2022|
|Pathway(s)||Significant business assets only
National Interest assessment
|Investment||The acquisition of additional shares in Aramex PJSC by the Applicant, to increase its existing interest from 24.93% to 28%.|
|Vendor||Existing shareholders of Aramex PJSC
United Arab Emirates (22.24%)
United States (4.82%)
Aramex PJSC (Aramex) is an Emirati multinational logistics, courier and package delivery company based in Dubai United Arab Emirates. It is a global provider of comprehensive logistics and transportation solutions and operates a franchisee courier system globally.
Aramex owns Aramex NZ a courier services provider whose network includes 18 regional franchises and over 280 franchise partners across New Zealand.
In 2021 the Applicant acquired 24.93% of the shares in Aramex. Consent was not required for this transaction as it was below the 25% threshold which requires consent.
The Applicant has satisfied the OIO that the investor test has been met.
|More information||Glenn Shewan
Bell Gully (Auckland)
Level 21, Vero Centre
48 Shortland Street