| 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. Cameron Wallace |
| 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 |