| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 15 June 2021 |
| Pathway(s) | Significant business assets only National Interest assessment |
| Investment | Acquisition of 100% of the shares in Vocus Group Limited |
| Asset Value | $3,500,000,000 |
| Applicant | Voyage Australia Pty Limited Australia (61%) Germany (8%) Canada (7%) Singapore (6.50%) South Korea (6%) China, People's Republic of (6%) Various (3.50%) Kuwait (2%) |
| Vendor | Shareholders of Vocus Group Limited Australia (95.6%) New Zealand (4%) Various (0.4%) |
| Background | The Applicant is a 50:50 joint venture between Australian superannuation fund, Aware Super, and private equity funds managed by Macquarie Group. The target, Vocus Group Limited, is an Australian telecommunications company that owns and operates retail and wholesale telecommunications businesses in New Zealand worth more than $100m. 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 | James Hawes Simpson Grierson (Auckland) Private Bag 92518 Auckland 1141 |