DecisionConsent granted
Section 13(1)(c) Overseas Investment Act 2005
Decision date9 March 2015

An overseas investment in significant business assets, being the Applicant’s acquisition of property in New Zealand used in carrying on business in New Zealand for consideration exceeding $100m being:

  • (i) contractual arrangements between Visionstream Pty Limited and Chorus New Zealand Limited (“Chorus”) for services regarding Chorus telecommunications infrastructure networks (such as build work, network maintenance and ultra-fast broadband deployment);
  • (ii) Visionstream Pty Limited’s subcontract to Leighton Contractors Pty Limited of some of the above services;
  • (iii) contractual arrangement between Leighton Contractors Pty Limited and Wellington City Council for road maintenance services (such as resurfacing, fencing, vegetation control and street cleaning);
  • (iv) contractual arrangements between Leighton Contractors Pty Limited and Wellington Gateway Partnership No. 2 LP (among others) in relation to construction and maintenance services for the Transmission Gully PPP project; and
  • (v) assets relating to the performance of the contracts and subcontract listed in items (i) to (iv) above,

(together, “the Investment”).

 LS Holdco Pty Ltd
Leighton Holdings Limited (50% shareholding)
100% Australian publicly listed company, 69.6% held by a German publicly listed company.
AIF VIII Singapore Pte Limited (50% shareholding)
Managed by an affiliate of Apollo Global Management LLC, United States of America (100%)
VendorExisting shareholders of Leighton Holdings Limited
100% Australian publicly listed company, 69.6% held by a German publicly listed company.

The Applicant is a joint venture between Leighton Holdings Limited and AIF VIII Singapore Pte Limited. Leighton Holdings Limited is currently undertaking a strategic review of its group businesses. The above Investment relates to a transaction that involves the Applicant’s acquisition of Leighton Contractors Services business and Thiess Services business.

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

More information

James Hawes
Simpson Grierson
Private Bag 92518

Michael Gartshore
Webb Henderson
P O Box 105426


Last Updated: 8 June 2018