| 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 | 23 March 2026 |
| Pathways | Benefit to New Zealand and Significant Business Assets |
| Investment | Acquisition of 100% of the shares in Fletcher Construction Holdings Limited which gives indirect freehold and leasehold interests in a total of approximately 54.53 hectares of sensitive land. |
| Consideration | $334,100,000 |
| Applicant | Vinci Construction New Zealand Limited North America 21% United Kingdom 18% France 15% Europe 13% Various 33% |
| Vendor | Fletcher Building Holdings New Zealand Limited Australia 49% New Zealand 27% United Kingdom 11% Various 13% |
| Background | The Applicant is a New Zealand incorporated subsidiary of Vinci SA, a French based global company, that specialises in concessions, energy and construction. The Applicant is acquiring Fletcher Construction Holdings Limited, a holding company for Higgins Contractors Limited (and its subsidiaries), Brian Perry Civil Limited and Fletcher Construction Major Projects, which operates as a branch of Fletcher Construction Holdings Limited. Fletcher Construction Holdings Limited has interests in sensitive land in the North Island. The land is in Greytown, Carterton and Wellington. The land in Greytown and Carterton is used to support current roading projects, and the land in Wellington is used as an office and yard base. The Applicant intends to operate Fletcher Construction Holdings Limited alongside its existing New Zealand operations while increasing its presence in the New Zealand market. Consent was granted as the Applicant has met the investor test criterion and the investment is likely to benefit New Zealand. |
| More information | Ranui Calman Greenwood Roche (Christchurch) PO Box 139 Christchurch 8140 |