Section 13(1)(c) Overseas Investment Act 2005
|Decision date||16 March 2015|
|Investment||An overseas investment in significant business assets, being the Applicant’s acquisition (in a series of two linked transactions) of property in New Zealand (being a freehold interest in 0.5365 hectares at 19 Aitken Street, Wellington) where the total value of the consideration exceeds $100m.|
|Applicant||Aitken Street Real Estate Netherlands B.V. & Credit Suisse Funds AG|
Swiss Public (99.3%)
Other Investors, Various (0.7%)
|Vendor||AMP Capital Property Portfolio Limited|
New Zealand Public and Various Entities, New Zealand (70.3%)
New Zealand Superannuation Fund, New Zealand (29.69%)
AMP Capital (New Zealand) Limited, New Zealand (0.01%)
In November 2012 the Applicant acquired an undivided one half share in 19 Aitken Street, Wellington, and obtained a right of pre-emption over the Vendor’s remaining half share as set out in a co-owners’ deed.
On 21 August 2014 the Applicant accepted the Vendor’s offer to sell the remaining half share to the Applicant.
|More information||Silvana Schenone|
Minter Ellison Rudd Watts
PO Box 3798