Published 26 February 2011
Hot-pools owner John St Clair Brown has sold 60% of his Waiwera Water NZ business and his thermal resort company, plus the site for a proposed bottling plant, to Moscow entrepreneur Mikhail Khimich.
Ownership & board changes have occurred progressively since the start of last year, with the latest ownership change made on 12 January.
The Overseas Investment Office approved the investment by Mr Khimich in the proposed bottling plant land, across the old State Highway 1 from the Waiwera village, on 22 October 2010.
The office’s approval was required for Mr Khimich’s investment in sensitive land – 10ha at 7 Upper Waiwera Rd, Waiwera. Consideration was $1.001 million plus the loan amount outstanding at settlement date pursuant to a loan agreement between the vendor, Mr Brown’s Waiwera Valley Properties Ltd,and PHC Treasury Ltd (a finance business owned by Cliff & Susanna Cook through Private Health Care (NZ) Ltd), as varied & assigned to Waiwera Water NZ Ltd.
Submissions on the resource consent applications for the bottling plant closed on 7 February, but a hearing hasn’t been scheduled yet. Applications were filed with the Auckland Regional Council for stormwater & wastewater discharges and earthworks, and with the Rodney District Council to establish & operate the water-bottling facility in the general rural zone and to undertake earthworks. Both types of consent can now be considered by the new unitary Auckland Council.
Mr Khimich & 2 other Russians, Mikhail Sobolev, Orewa, & Oleksandr Kirichuk, Puhoi, were appointed directors of Mr Brown’s companies, Waiwera Thermal Resort Ltd & Waiwera Water NZ, last April, joining John & Fraser St Clair Brown. All but Mr Khimich resigned on 30-31 December.
Mr Khimich started out with 60 shares in each company, leaving John Brown’s Traus Holdings Ltd with 40. The holdings were bumped up to 6000:4000 and, on 12 January this year, law firm Buddle Findlay’s Budfin Nominees Ltd replaced Traus as 40% shareholder.
There’s a strong yachting connection between the parties. The St Clair Brown family has long connections with sailing in Auckland through the Royal NZ Yacht Squadron.
Mr Khimich owns the 159ft ketch Thalia, which underwent a major refit in Auckland in 2008, and Mr Kirichuk owns the 120ft classic Dragon-class yacht Alla, built by the boatbuilding company he formed in 2003, Aries Pacific Ltd.
Mr Kirichuk is also a director of Sarjoh Ltd with Mr Brown. Mr Sobolev incorporated International Marketing Consulting (IMC) Ltd in April 2010.
A separate company owned by the Browns & Roger Mac, Siesta Holdings Ltd (ex-Waiwera Water Ltd), faced liquidation in the Auckland High Court on Friday but won an adjournment on the promise of settlement on 15 March. The plaintiff was Ross Recruitment Ltd, owned by Sydneysider Julia Ross, of Verossity Pty Ltd.
John Brown is a director of Anticipation Investments Ltd, BBI Investments Ltd, Curazon Projects Ltd, Hightech Health (NZ) Ltd, Hobo Investments Ltd, JDSTCB Ltd, Manuka Health NZ Ltd, Marketing Management Holdings Ltd, Ngahemi Properties Ltd, Nippy NZ Ltd, Premium Beverage Solutions Ltd, Repower Ltd, Repower Australasia Ltd, Repower NZ Ltd, Sarjoh Ltd, Seaside Land Ltd, Traus Holdings, Waiwera Infinity Spa Resort Ltd, Waiwera International Ltd, Waiwera Resorts Ltd, Waiwera Thermal Spa Resort, Waiwera Valley Ltd, Waiwera Valley Properties Ltd, Waiwera Village Ltd, Ywera Ltd, Ywera Developments Ltd & Zentrum Holdings Ltd, and a former director of Waiwera Thermal Resort & Waiwera Water NZ.
20 December 2010: St Clair Brown seeks Upper Waiwera bottling plan consent
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Attribution: Court hearing, Companies Register, RNZYS register, district council notices, story written by Bob Dey for the Bob Dey Property Report.