| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 22 December 2023 |
| Pathway(s) | Significant business assets |
| Investment | Acquisition of 100% of the shares in MHM Automation Limited. |
| Consideration | $151,000,000 |
| Applicant | Bettcher Industries, Inc. United States of America 44% South Korea 8% People's Republic of China 8% Singapore 5% Luxembourg 5% Various 30% |
| Vendor | MHM Automation Limited New Zealand 92% Australia 5% Various 3% |
| Background | The Applicant is a manufacturer of tools for the food processing industry. The Applicant has nominated its wholly owned subsidiary, Merlin NZD Bidco Limited, to acquire the shares. The Applicant and its subsidiary are acquiring 100% of the shares in MHM Automation Limited, which is a designer and creator of automated engineering solutions. Consent was granted as the Applicant met the investor test criterion. |
| More information | Sarah Haste Mayne Wetherell PO Box 3797 Shortland Street AUCKLAND |