Offeror(s): JEVIC NZ Limited

Independent Adviser(s): Simmons Corporate Finance (Rule 21)

Offer Date: 09/01/2013

Closing Date: 13/02/2013

Offer Type: Full

Exemption: Vehicle Inspection New Zealand Limited - Exemption Notice 2013

Summary of transaction

On 9 January 2013, JEVIC NZ Limited (“JEVIC”) made a full takeover for all the ordinary shares in Vehicle Inspection New Zealand Limited (“VINZ”).

 Key terms:

  • The consideration offered for each VINZ share was initially $1.65 cash. The consideration was increased to $2.15 during the offer period.

  • The offer was conditional on (among other things):

    • JEVIC receiving more than 50% acceptance of its takeover offer;

    • the NZTA providing certain assurances; and

    • the General Manager agreeing to remain with VINZ.

The offer closed on 13 February 2013 with JEVIC receiving 100% acceptances.

Key Documents

Takeover Notice:
Takeover Offer:
Target Company Statement:
Independent Adviser Report(s):