Eternal Aus HoldCo Limited
Case number(s)
Decision date

Consent granted
Section 13(1)(a), Section 16(1)(b)(i)(C)&(D)

Decision maker Toitū Te Whenua Land Information New Zealand
Decision date 21 September 2023
Pathway(s) Significant Business Assets 
Sensitive land - Residential land development (one off)
Investment Acquisition of 100% of the issued shares of InvoCare Limited, including the acquisition of freehold interests in approximately 3.13 hectares of land and leasehold interests in approximately 4.56 hectares of land.
Consideration Exact amount of New Zealand assets uncertain but in excess of $100,000,000 (Overall scheme consideration AUD$1.8 billion)

Eternal Aus HoldCo Limited
Singapore (26%)
United Arab Emirates (15%)
Canada (12%)
Cayman Islands (11%)
South Korea (8%)
United States of America (6%)
China, People's Republic of (6%)
Various (16%)

Vendor InvoCare Limited
Australia (100%)

The Applicant is an entity ultimately owned by funds managed or advised by TPG Capital Asia or its related entities.

The Applicant seeks to acquire 100% of the shares in InvoCare Limited, an Australian company which operates funeral homes, cemeteries, and crematoria. Through the transaction the Applicant will acquire seven interests in sensitive land. 

The land is residential land that is used, and will continue to be used, for the purpose of providing funeral services and staff accommodation. 

Consent was granted as the Applicant has met the investor test criterion and the investment is likely to result in a non-residential use outcome and an incidental residential use outcome.

More information

Josh Blackmore
Chapman Tripp
Level 6
Deloitte Building
20 Customhouse Quay,
Wellington 6011