DecisionConsent granted
Section 13(1)(a) Overseas Investment Act 2005
Decision date25 March 2015
InvestmentAn overseas investment in significant business assets, being the Applicant’s acquisition of the Hardinge/Victoria Street Building, Spark City, 167-169 Victoria Street West, Auckland (also known as “Building D”).
Consideration$135,291,367
ApplicantPengxin Holdings (HK) Company Limited
Zhaobai Jiang, China, People's Republic of (100.0%)
VendorMansons Holdings Limited
Edward Colin Manson and Family, New Zealand (100.0%)
Background

The investment aligns with the applicant’s core focus on real estate and will allow it to continue its international growth. It will also enable the Shanghai Pengxin Group to expand and diversify its operations in New Zealand.

The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005.

More informationTessa Baker
Chapman Tripp
PO Box 2206
AUCKLAND 1140