Kinetic NZ Holdings Limited
Case number(s)
Decision date
Decision Consent granted
Section 12(1)(b) Overseas Investment Act 2005 (the Act) 
Section 13(1)(a) of the Act
Decision Maker Toitū Te Whenua LINZ
Decision Date 22 July 2022 
Pathway(s) Benefit to New Zealand and Significant Business Asset 
National Interest assessment
Investment Acquisition of up to 100% of the shares in NZB Holdco Limited (NZ Bus) 
Asset Value Withheld under s9(2)(b)(ii) of the Official Information Act 1982 
Applicant Kinetic NZ Holdings Limited  
Canada 51.4%
Australia 22.6%
United States of America 5.5%
Japan 4.4%
South Korea 1.9%
Switzerland 0.5%
Israel 0.2%
Various 13.5%
Vendor Shareholders of NZB Holdco Limited
Australia 38.6%
Cayman Islands 23.5%
United Kingdom 15.6%
Luxembourg 7.9%
New Zealand 6.4%
United States of America 4.3%
Channel Islands 3.7%

The Applicant, along with its parent company and its subsidiaries, provides ‘people moving’ transit services in New Zealand and Australia. It owns:  

  • Go Bus, New Zealand’s largest operator of passenger service vehicles, offering services including urban, school, special needs, charter and tour transport options;
  • Airside bus service under contract to Auckland Airport; and
  • Skybus services at various airports in Australia.

The Applicant has been granted consent to acquire up to 100% of the shares in NZ Bus. NZ Bus is New Zealand’s largest metro bus operator with operations in the key population hubs of Auckland, Wellington and Tauranga. It operates a fleet of 800 buses from 14 depots and employs approximately 1,300 people. It leases depots around New Zealand, of which three comprise interests considered sensitive land under the Act. 

The Investment is likely to result in the creation of new permanent jobs (driver positions), additional investment for development purposes, benefits to the natural environment, continued or enhanced protection of historic heritage (for one of the depots), and advance significant government policies. It also met the national interest test.  

The Applicant has satisfied the investor test.  The Minister of Finance has decided that the investment is not contrary to New Zealand national interests.

More information Tessa Baker
Chapman Tripp (Auckland)
PO Box 2206 
Auckland 1140