Decision number | 200810062 |
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Application number | 200810076 |
Date | 26 June 2008 |
Offeror/applicant | Quadrant Private Equity Pty Limited as manager of Quadrant Private Equity No. 1 |
Ultimate applicant beneficial ownership | 100 percent - Australia, Australian Public |
Beneficial overseas ownership | |
- Asset current | N/A |
- Asset proposed | N/A |
- Share current | 32.26 percent |
- Share proposed | 76.291 percent |
Offeree(s)/seller(s) | Existing Shareholders of Seniors Money International Limited 67.74 percent - New Zealand, New Zealand Public 28.23 percent - Australia, Australian Public 1.53 percent - Various, Various overseas persons 1.38 percent - United Kingdom, United Kingdom Public 1.12 percent - Kenya, Kenya Public |
Business activities | Finance & Insurance - Financial Institutions |
Details of land involved | None. |
Regions involved | Auckland |
Total consideration | $15,400,000 |
Consent sought | To acquire rights and interests in up to 65 percent of the shares of Seniors Money International Limited. |
Rationale | The application has been approved as it met the criteria. The Overseas Investment Office is satisfied that the individuals with control of the Applicant collectively have business experience and acumen relevant to the overseas investment, and that the Applicant has demonstrated financial commitment towards the overseas investment. The Overseas Investment Office is further satisfied that each individual that exercises control over the Applicant is of good character and is not an individual of the kind referred to in section 7(1) of the Immigration Act 1987. Background: The Investment: Rationale: |
Contact | John Strowger/Justine Tuite Chapman Tripp PO Box 2206 Auckland |