| Decision | Consent Granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 15 July 2010 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 100.0% of the issued share capital of Healthscope New Zealand Limited, the value of the assets of Healthscope New Zealand Limited and its 25% or more subsidiaries being greater than $100m. |
| Asset Value | $101,168,378 |
| Applicant | Kohlberg Kravis Roberts & Co. L.P., funds advised by the same, and the Oman Investment Fund, on behalf of an Australian company to be incorporated Various overseas persons (30.275%) United States Public (25.275%) Oman Investment Fund, Oman (25.0%) Luxembourg Public (4.025%) Canadian Public (3.925%) United Kingdom Public (2.95%) Japanese Public (1.85%) United Arab Emirates Public (1.7%) Singapore Public (1.125%) Swiss Public (1.1%) South Korean Public (0.95%) Kuwait Public (0.825%) Hong Kong Public (0.7%) Australian Public (0.3%) |
| Vendors | Existing Shareholders of Healthscope New Zealand Limited Various overseas persons (45.3%) National Nominees Limited, Australia (16.98%) JP Morgan Nominees Australia Limited, Australia (12.45%) HSBC Custody Nominees (Australia) Limited, Australia (10.3%) Cogent Nominees Pty Limited, Australia (3.57%) Citigroup Nominees Pty Limited, Australia (3.57%) ANZ Nominees Limited, Australia (3.08%) Tasman Asset Management, Australia (2.58%) RBC Dexia Investor Services Australia Nominees Pty Limited, Australia (2.17%) |
| Background | The Applicant proposes to acquire Healthscope Limited (Healthscope), a private health care provider which owns and manages several hospitals in Australia and also operates a pathology business with facilities in Australia, New Zealand and Asia. Healthscope New Zealand Limited, a subsidiary of Healthscope, provides community pathology services for various District Health Boards around the country. The investors in the Applicant believe that Healthscope has strong growth potential, and fits well with their management expertise and their other investments in the healthcare sector abroad. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Anna Buchly Bell Gully (Auckland) PO Box 4199 AUCKLAND 1140 |