Shelley Newco 2 Pty Ltd
Case number(s)
Decision date
DecisionConsent granted
Section 13(1)(a) Overseas Investment Act 2005
Decision makerToitū Te Whenua Land Information New Zealand
Decision date27 February 2024
Pathway(s)Significant business assets
National interest assessment
InvestmentAcquisition of up to 60% of the shares in MediaWorks Investments Limited.
ConsiderationWithheld under s.9(2)(b)(ii) of the Official Information Act 1982
ApplicantShelley Newco 2 Pty Ltd
Australia 51% 
United States of America 19%, 
Cayman Islands 14% 
United Arab Emirates 8% 
Various 8%
VendorMediaWorks Investments Limited 
Various 100%

The Applicant is owned by funds managed by an Australian private equity firm. The Applicant currently owns 40% of the New Zealand business of MediaWorks, which conducts commercial radio broadcasting and outdoor advertising.

The Applicant seeks consent to acquire up to 60% of the shares in MediaWorks Investments Limited, the ultimate holding company of MediaWorks’ business in New Zealand.

Consent was granted as the Applicant met the investor test criterion and the Minister of Finance has decided that the investment is not contrary to New Zealand’s national interest.

More informationGlenn Shewan
Bell Gully 
Level 22, Vero Centre
48 Shortland Street
Auckland 1010
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