| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 27 May 2026 |
| Pathway | Significant business assets – Primary consent |
| Investment | Acquisition of 80% of the shares in Biotelliga Holdings Limited, together with any additional shares issued upon exercise and settlement of all outstanding stock options and restricted stock units (being all of the shares not currently held by the Applicant), with value of assets exceeding $100 million |
| Consideration | $90 million |
| Applicant | Corteva Holdings NZ North America 73% United Kingdom 7% Europe 5% Various 15% |
| Vendor | Biotelliga Nominees Limited New Zealand 94% Australia 4% Germany 1% Taiwan 1% |
| Background | The Applicant is ultimately owned by Corteva, Inc., a company from the United States that operates globally and is focused on supporting farming and crop production. It already holds a 20% interest in Biotelliga and is now acquiring the remaining 80% of the issued shares (together with any additional shares issued upon exercise and settlement of all outstanding stock options and restricted stock units). Biotelliga is an agricultural biotechnology company focused on developing safe and sustainable solutions for managing crop pests and diseases. The Applicant intends to continue operating this business in New Zealand. Consent was granted as the national interest test was met. |
| More information | Alex Franks Chapman Tripp (Auckland) PO Box 2206 Auckland 1140 |