Applicant
Shelley Newco 2 Pty Ltd
Case number(s)
202500242
Decision date
Type
Decision
Decision

Consent Granted
Section 13(1)(a) Overseas Investment Act 2005

Decision maker

Toitū Te Whenua Land Information New Zealand

Decision date

26 May 2025 

Pathway

Significant business assets

Investment

Acquisition of up to 100% of the shares in MediaWorks Investments Limited

Consideration

Withheld under s9(2)(b)(ii) of the Official Information Act 1982

Applicant

Shelley Newco 2 Pty Ltd
Australia 47%
United States of America 22% 
Cayman Islands 14% 
United Arab Emirates 8% 
Various 9%

Vendor

Tokyo Opportunities B.V.
Netherlands 100% 

Cameron Wallace
New Zealand 100% 

Background

The Applicant is ultimately owned by an Australian private equity firm. The Applicant is increasing its existing shareholding in MediaWorks Investments Limited.

This application was subject to a national interest assessment because MediaWorks Investments Limited is considered a Strategically Important Business due to it being a leading commercial radio network which broadcasts news, information and opinion throughout the country. MediaWorks owns 12 New Zealand radio stations and a substantial outdoor advertising business.

The Minister of Finance has decided that the Investment is not contrary to New Zealand’s national interest. 

Consent was granted as the Applicant met the investor test criterion.

More information

Glenn Shewan
Bell Gully (Auckland)
PO Box 4199
AUCKLAND 1140