|Date||18 October 2005|
|Offeror/applicant||Holcim (New Zealand) Limited|
|Ultimate applicant beneficial ownership||66.38 percent - Switzerland, Swiss Public|
23.6 percent - Switzerland, Schmidheiny (Thomas)
10.02 percent - United States of America, Capital Group Companies
|Beneficial overseas ownership|
|- Asset current||0 percent|
|- Asset proposed||100 percent|
|- Share current||N/A|
|- Share proposed||N/A|
|Offeree(s)/seller(s)||Antares Holdings Limited|
60 percent - New Zealand, Harnett (Geoffrey Roy)
40 percent - New Zealand, Read (Lanie Jean)
|Business activities||Property & Business Services - Property|
|Details of land involved||0.4742 hectares of freehold situated at 70 Patiki Road, Avondale, Auckland being CT NA60A/874 (North Auckland Registry).|
|Total consideration||$1,110,000 plus GST (if any)|
|Consent sought||To acquire:|
The application has been approved as it met the criteria.
The Overseas Investment Office is satisfied that the Applicant has significant business experience and acumen relevant to and is demonstrating financial commitment towards the investment. The Overseas Investment Office is further satisfied that the persons who exercise control over the Applicant are of good character and not the kind of persons referred to in section 7(1) of the Immigration Act 1987.
The Applicant, through its operating divisions and subsidiaries, is involved in the manufacture, distribution and sale of cement and ready mixed concrete, and the extraction, processing and sale of aggregate and limestone. It has operated in New Zealand for over 115 years and has established positions within these markets. The Applicant previously operated in New Zealand as Milburn New Zealand Limited. The Applicant's parent company, Holcim Limited, is one of the world's leading suppliers of cement, aggregates and concrete.
The Applicant is proposing to acquire the subject property which is situated in a well-developed industrial area. The land adjoins a 6020m2 parcel of land owned by the Applicant, from which it operates a ready mix concrete plant. The existing land owned by the Applicant was part of the land the subject of A199820094/D199820095, when Zealhoff New Zealand Limited acquired the balance shareholding in the Applicant (then named Milburn New Zealand Limited).
Part of the land is leased to MT Containers for the manufacture of plastic containers. The MT Containers lease is terminable on six months notice by either the lessee or lessor.
|Contact||Chris Weir/Nicola Hiatt|
PO Box 2646