DecisionConsent granted
Section 13(1)(a) Overseas Investment Act 2005
Decision MakerOverseas Investment Office
Decision Date4 December 2018
InvestmentAn overseas investment in significant business assets, being the Applicant's acquisition of 100% of the shares in Wynyard Precinct Holdings Limited, the consideration of which exceeds $100m.
Consideration$635,000,000
ApplicantViaduct Holdings IV Limited
Hong Kong (SAR) (up to 51%)
Switzerland (up to 20%)
Canada (up to 13%)
United Kingdom (up to 8%)
United States of America (up to 6%)
Japan (up to 3%)
Guatemala (up to 3%)
Vendors

Goodman Nominee (NZ) Limited
New Zealand (67.3%)
Australia (25.5%)
Various (7.2%)

Reco Aotearoa Private Limited
Singapore (100%)

Background

The Applicant is a company specifically created to acquire the shares in Wynyard Precinct Holdings Limited. 

Wynyard Precinct Holdings Limited owns seven subsidiary companies that each own a commercial office building in Wynyard Quarter in the Auckland central business district.

The acquisition of the shares in Wynyard Precinct Holdings Limited advances the Applicant’s investment objectives.

The Applicant has satisfied the Overseas Investment Office that the individuals who will control the investment have the relevant business experience and acumen and are of good character. The Applicant has also demonstrated financial commitment to the investment.

More informationMark Nicholson
Chapman Tripp 
PO Box 2206
AUCKLAND 1140