Section 13(1)(c) Overseas Investment Act 2005
|Decision Maker||Overseas Investment Office|
|Decision Date||18 December 2018|
|Investment||An overseas investment in significant business assets, being the Applicant’s acquisition of a leasehold interest in approximately 1.568 hectares of non-sensitive land at Wiri Station Road, Auckland from the vendor for a full term of 65 years (including renewals) to operate a meat processing business.|
|Applicant||Hilton Foods New Zealand Limited|
United Kingdom Public (86.0%)
North American Public (11.0%)
European Public (3.0%)
|Vendor||Macquarie Group Holdings New Zealand Limited|
Australian Public (70.0%)
Various, Various (30.0%)
The Applicant’s ultimate parent Hilton Foods Group PLC is a publicly listed company in the United Kingdom, specialising in meat processing and supply in Europe. The Applicant has been established in New Zealand to operate a meat processing business for the supply of meat products to supermarkets owned by Progressive Enterprises Limited.
The Applicant has satisfied the OIO 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 information||Tara Wylie|
Private Bag 92518