UDC Finance Limited
Case number(s)
Decision date

Consent granted 
Section 13(1)(c) Overseas Investment Act 2005

Decision maker Overseas Investment Office 
Decision date 1 August 2022
Pathway(s) Significant business assets only 
Investment Vendors' automotive financing businesses, including all loans issued by the Vendors, intellectual property, goodwill, and business records. 
Asset value $213,000,000 

UDC Finance Limited
Japan 48.22%
United States of America 15.25%
Hong Kong 8.91%
Various 27.62%


Euro Rate Finance Limited, European Wholesale Finance Limited and European Financial Services Limited 
New Zealand 100% 


The Applicant is New Zealand's largest non-banking lending institution and has operated in New Zealand for over 80 years, having been incorporated on 1 April 1938. The Vendors provide financing to the customers of the Giltrap Group. The Applicant considers the acquisition of the assets to be a natural expansion of its existing motor vehicle financing business. The acquisition of the Vendors assets will further diversify and strengthen the Applicant's brand portfolio and core business. 

The Applicant has satisfied the requirements of the investor test. 

More information

Ian Beaumont 
Russell McVeagh (Auckland) 
PO Box 8
Auckland 1140