| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 17 June 2020 |
| Pathway | Significant Business Asset |
| Investment | An overseas investment in significant business assets, being the Applicant's upstream acquisition of up to 100% of the shares in Ingenico Group S.A. and the convertible bonds of Ingenico OCEANEs. This acquisition includes New Zealand Assets, being Paymark Limited and Bambora New Zealand Limited. |
| Consideration | Up to approximately NZ$13.5 billion. The value of Ingenico Group’s New Zealand assets is in excess of NZ$100 million |
| Applicant | Worldline S.A. France (31.53%) Switzerland (27.89%) United States of America (17.18%) United Kingdom (7.09%) Germany (3.56%) Various (12.75%) |
| Vendor | The shareholders of Ingenico Group S.A. French Public (31.53%) Swiss Public (27.89%) North American Public (17.18%) Various Public, Various (12.75%) United Kingdom Public (7.09%) German Public (3.56%) |
| Background | The Applicant is one of the largest European entities in the payment and transactional services industry. The Applicant’s core offerings include Pan-European and domestic payment solutions for physical or online businesses, secure payment transaction processing for banks and financial institutions, and transactional services in e-ticketing. 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 | Tim Tubman Chapman Tripp PO Box 2206 Auckland 1140 |