| Decision | Consent granted Section 12(1)(b) and Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 25 March 2026 |
| Pathways | Benefit to New Zealand and Significant Business Assets |
| Investment | Acquisition of a 60% interest (each Applicant is acquiring 30%) in each of Cornerstone Infrastructure Partners Holdings LP and CIP Holdings General Partner Limited which gives indirect leasehold interests in approximately 37 hectares of sensitive land. |
| Consideration | Withheld under section 9(2)(b)(ii) of the Official Information Act 1982 |
| Applicants | Sojitz Capella Corporation 2 B.V. (Capella) Waikeria B.V. (Invesis) |
| Vendors | Public Infrastructure Partners III LP and PIP II Pooling LP New Zealand 100% |
| Background | Capella is ultimately owned by Sojitz Corporation, a Japanese investment company, and Invesis is wholly owned by Stichting Depositary PGGM Infrastructure Fund, a Dutch pension fund. Cornerstone Infrastructure Partners Holdings LP and CIP Holdings General Partner Limited are the holding and management entities within a Public Private Partnership agreement structure with the Department of Corrections to finance, design, and construct the Waikeria Prison facility. The benefits likely to occur include reducing the risk of illiquid assets and advancing several government policies related to PPP investments. Consent was granted as the Applicant has met the investor test criterion and the investment is likely to benefit New Zealand. |
| More information | Stephen Lowe Wynn Williams PO Box 4341 Christchurch 8140 |