| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 27 September 2011 |
| Investment | An overseas investment in significant business assets, being the Applicant’s acquisition of up to 100% of shares in MYOB Cayman Holdings Limited for consideration exceeding $100m. |
| Consideration | $181,436,782 (attributable to the New Zealand business) |
| Applicant | Bain Capital Abacus Acquisition Pty. Ltd. United States Public (59.6%) United Kingdom Public (7.4%) Singapore Public (5.8%) Various overseas persons (27.2%) |
| Vendor | MYOB Group Archer Capital 4C Pty Ltd, Australia (27.17%) HarbourVest Partners 2007, Netherlands (20.51%) Archer Capital 4B Pty Ltd, Australia (16.17%) Archer Capital 4A Pty Ltd, Australia (16.17%) Australian Public (13.37%) Squadron Asia Pacific II NV, Belgium (5.61%) Various overseas persons (1.0%) |
| Background | The Applicant intends to increase the overall efficiency and profitability of the MYOB business. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Melissa Pengelly Quigg Partners PO Box 3035 WELLINGTON 6140 |