| Decision | Consent granted Section 12(1)(a) and Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 18 December 2025 |
| Pathways | Sensitive land – residential land development (one off) and significant business assets |
| Investment | Lift Holdings No. 4A Limited and Lift Holdings No. 4B Limited are acquiring 100% of the shares in First Gas Topco Limited and Gas Services NZ Limited and the Shareholder Loans to both First Gas Topco Limited and Gas Services NZ Limited |
| Consideration | Withheld under s9(2)(b)(ii) of the Official Information Act 1982 |
| Applicants | Lift Holdings No. 4A Limited and Lift Holdings No. 4B Limited Canada 39% United States of America 18% Saudi Arabia 10% South Korea 5% Various 28% |
| Vendors | The current owners of First Gas Topco Limited and Gas Services NZ Limited, being entities associated with First Sentier Group Australia 50% Canada 26% Japan 14% United States of America 7% Various 3% |
| Background | The Applicants are ultimately owned by entities managed and controlled by Brookfield, a global investment firm and alternative asset manager. The Applicants are acquiring businesses owned by Clarus, being First Gas Limited, Rockgas Limited, Flexgas Limited and First Renewables Limited, but excluding other subsidiaries to be separated from Clarus before the transaction is completed. The transaction will give the Applicant ownership of 0.3 hectares of residential land in Queenstown used to house gas infrastructure. Consent was granted as the Applicants have met the investor test and the non-residential use test. |
| More information | Susie Kilty Buddle Findlay PO Box 2694 Wellington 6140 |