| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 22 October 2015 |
| Investment | An overseas investment in significant business assets, being TSG Holdings (NZ) Limited’s acquisition of rights or interests in 100% of the shares of Transaction Services Group Limited (New Zealand company number 2380101), the consideration of which exceeds $100m. |
| Consideration | $359,116,099 |
| Applicant | Transaction Services Group Limited (United Kingdom company number 9766556) Calera Capital Advisors, LP, United States of America (47.25%) Bolton Equities Limited, New Zealand (47.25%) New Zealand (4.72%) United Kingdom (0.45%) Australia (0.33%) |
| Vendor | The Existing Shareholders of Transaction Services Group Limited (New Zealand company number 2380101) Direct Capital Investments Limited, New Zealand (48.04%) Bolton Equities Limited, New Zealand (42.40%) New Zealand (9.56%) |
| Background | The Applicant will acquire its interest in Transaction Services Group Limited (New Zealand) through its 100% subsidiary, TSG Holdings (NZ) Limited. Transaction Services Group Limited (New Zealand) manages payment processing functions for clients in industries including health and fitness facilities, sports clubs, property management companies, maintenance providers, home service providers and insurance companies. The Investment is an opportunity for Calera Capital Advisors, LP to invest in Transaction Services Group Limited (New Zealand) through its acquisition of Direct Capital Investments Limited’s interest. The Applicant is an investment vehicle that has been incorporated for the purpose of the Investment to hold the shareholders’ interests in Transaction Services Group Limited (New Zealand). The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Craig Nelson Martelli McKegg PO Box 5745 AUCKLAND |
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