| Decision | Consent granted Section 13(1)(a) of the Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 18 March 2026 |
| Pathway | Significant business assets |
| Investment | Acquisition of up to 20% of the ordinary shares and redeemable preference shares in Fortysouth Limited |
| Consideration | Withheld under section 9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Pantheon InfraRed Digital Core Plus JV Holdco Limited North America 81% Europe 14% Various 5% |
| Vendor | Infratil Towerco Limited New Zealand 65% United States 11% Australia 11% United Kingdom 5% Various 8% |
| Background | The Applicant is a special purpose vehicle associated with British asset management firm InfraRed Capital Partners (IRCP). IRCP will control the shares in Fortysouth Limited (FortySouth), which will result in its existing control interest increasing from 40% to 60%. The investment is in a strategically important business as FortySouth owns approximately 1,700 passive telecommunications towers across New Zealand. Consent was granted as the Applicant has met the investor test criterion. The Minister of Finance has decided that the investment is not contrary to New Zealand’s national interest. |
| More information | Michael Loan Russell McVeagh (Wellington) PO Box 10-214 Wellington |