| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 18 March 2019 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 100% of Eclipx Group Limited, the value of the assets of Eclipx Group Limited and its 25% or more subsidiaries being greater than $100 million. |
| Asset Value | Approximately $967,000,000 |
| Applicant | McMillan Shakespeare Limited Australian Public (57.9%) United States Public (16%) United Kingdom Public (9.5%) Canada Public (6.9%) Various overseas persons (9.7%) |
| Vendor | Existing shareholders in Eclipx Group Limited Australian Public (82.4%) North American Public (5.3%) Various overseas persons (4.4%) European Public (3.9%) Asian Public (2.5%) New Zealand Public (1.5%) |
| Background | The Applicant is listed on the ASX and is widely held. It provides a variety of vehicle fleet and financial services. The Investment involves the Applicant’s acquisition of the shares in Eclipx Group Limited, resulting in a merger of the two companies. Eclipx Group Limited also operates in the area of vehicle fleet and financial services. 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 | Glenn Shewan Bell Gully PO Box 4199 AUCKLAND 1140 |