| Decision | Consent Granted Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Toitū Te Whenua LINZ |
| Decision Date | 08 July 2022 |
| Pathway(s) | Significant business assets only |
| Investment | Acquisition of up to 100% of the shares in Prolife Foods Limited (PFL) and 100% of the shares in Prolife Ventures Limited (PVL) |
| Consideration | Withheld under s9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Darley-Graze Holding Limited and FinaNuts Holding Pty Ltd (Belgium 100%) |
| Vendor |
The Shareholders of Prolife Foods Limited: |
| Background |
Darley-Graze Holding Limited and FinaNuts Holding Pty Ltd are special purpose vehicles, both of which are ultimately owned by Finasucre. The Finasucre Group produces raw, direct consumption raw, white and refined sugar, and has branched out into other productions such as alcohol, macadamia nuts and more. By making direct equity investments in listed and non-listed companies with significant growth potential, the Finasucre Group is diversifying into various sectors. The PFL group which includes PVL is a healthy snack foods business. The proposed transaction comprises the acquisition of up to 100% of the shares of Prolife Foods Limited and 100% of the shares of Prolife Ventures Limited, a convertible loan note transaction and an exit transaction The Applicant has satisfied the investor test criteria. |
| More information | Neil Millar MinterEllisonRuddWatts PwC Tower, Level 22/15 Customs Street West, Auckland 1010 |