DecisionConsent granted
Section 13(1)(c) Overseas Investment Act 2005
Decision date16 March 2015
InvestmentAn 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.
Consideration$161,873,369
ApplicantAitken Street Real Estate Netherlands B.V. & Credit Suisse Funds AG
Swiss Public (99.3%)
Other Investors, Various (0.7%)
VendorAMP 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%)
Background

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

More informationSilvana Schenone
Minter Ellison Rudd Watts
PO Box 3798
AUCKLAND 1140