| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 18 June 2015 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 100% of the shares of the CallPlus Group, the consideration for which exceeds $100m, and the gross value of the assets of the CallPlus Group exceeds $100m. |
| Consideration | $250,000,000 |
| Applicant | Tripod Limited Australian Public (57.63%) Other Investors, Various (29.84%) North American Public (5.63%) United Kingdom Public (2.2%) Asian Public (1.91%) European Public (1.67%) New Zealand Public (1.12%) |
| Vendor | CallPlus Group New Zealand (100%) |
| Background | The Applicant has entered into agreements to acquire all of the shares in companies which, together with their respective subsidiaries, comprise the CallPlus group. The Applicant intends to continue to operate the CallPlus Group’s internet service provider business as a standalone operation. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Ashe-lee Jegathesan |