| Decision | Consent approved Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Toitū Te Whenua LINZ |
| Decision Date | 28 July 2022 |
| Pathway(s) | Significant business assets only |
| Investment | Baring Private Equity Asia Group Limited and Baring Private Equity Asia Group Holdings Limited |
| Consideration | Withheld under s(9)(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Orange Merger Sub 1 Limited and Orange Merger Sub 2 Limited Sweden 84% Chile 9.9% Various 6.1% |
| Vendor | Baring Private Equity Asia Group Limited Chile 100% |
| Background |
This transaction is a merger between two large global investment organizations: EQT AB (EQT); and Baring Private Equity Asia Group (BPEA). The transaction will allow EQT to expand into Asian private markets. The Applicants will acquire up to 100%, via merger, of the shares and sole control of BPEA. The Applicants are subsidiaries of EQT. The Applicants have been incorporated for the sole purpose of completing this transaction. Through the acquisition of BPEA, EQT will indirectly acquire sensitive New Zealand assets held by NZGT Holding Company Limited (Guardian). Guardian operates a group of companies that form one of New Zealand’s largest professional trustee service providers. The Overseas Investment Office is satisfied that the Investor Test has been met. |
| More information | Tim Tubman Chapman Tripp (Auckland) PO Box 2206 Auckland 1140 |