| Decision | Consent granted Section 13(1)(c) and Section 13(1)(a) of the Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 11 November 2025 |
| Pathway | Significant business assets |
| Investment | Acquisition of 11 data centres |
| Consideration | $486,000,000 |
| Applicant | Qubit BidCo Limited Funds managed or advised by Australian private equity firm, Pacific Equity Partners Pty Ltd, comprised of entities which are 99.86% overseas owned |
| Vendors | Spark New Zealand Trading Limited, Computer Concepts Limited and Revera Limited1 1Computer Concepts Limited and Revera Limited are wholly owned subsidiaries of Spark New Zealand Trading Limited. |
| Background | The Applicant is owned by funds managed or advised by Australian private equity firm, Pacific Equity Partners Pty Limited. The Applicant is buying 11 data centres used in the business of providing data centre co-location and access services (including space in data centres, power and cooling, environmental and access control) from the Vendors. The data centre business and assets are currently 100% owned by the Vendors. On completion, Spark New Zealand Trading Limited will become a 25% shareholder in the Applicant and the Applicant will acquire the data centre business and assets. Consent has also been granted to the funds managed or advised by Pacific Equity Partners Pty Limited to increase their interests in the Investment from 75% to 100%. The application was subject to a national interest assessment because: The Minister of Finance has decided that the investment is not contrary to New Zealand’s national interest. Consent was granted as the Applicant has met the investor test criterion. |
| More information | Sam Kember Russell McVeagh (Auckland) PO Box 8 Auckland 1140 |