| Decision | Consent granted Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 9 December 2016 |
| Investment | An overseas investment in significant business assets, being the Applicant’s acquisition of rights or interests in up to 40% of the issued share capital in Healthcare of New Zealand Holdings Limited. |
| Asset Value of Healthcare of New Zealand Holdings Limited | In excess of $100,000,000 |
| Applicant | Home Care BidCo Pty Limited Australia (92%) United Arab Emirates (8%) |
| Vendors | Peter John Hausmann and Suzanne Louis Hausmann as trustees of the family Trust, SPH Limited and Peter John Hausmann (the Hausmann Sellers) Peter Francis Cottier, Yvonne Marie Cottier and SCW Trustees Limited as trustees of the Cottier Family Trust (the Cottier Sellers) |
| Background | The Applicant is a wholly owned subsidiary of Home Care Holdings Pty Limited (“Home Care”). The Applicant currently has two wholly owned subsidiary companies which operate health care businesses in Australia. Healthcare of New Zealand Holdings Limited (“HHL”) is the parent company of a number of health care related specialist organisations which deliver services designed to meet the specific needs of the people they support, in their homes and communities in New Zealand. Home Care is investing in HHL to build a leading healthcare business in the evolving Australia and New Zealand markets. HHL is a large scale, diversified health services business that leverages technology, systems and scale to support the significant volume of users who require healthcare and care support in New Zealand. Home Care’s investment in HHL represents an investment in a best practice operator within the region which will be a valuable addition to the Home Care group.The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Luke Bowers Chapman Tripp PO Box 2206 Auckland 1140 |
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