| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 22 January 2016 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 100% of the shares of Veda Group Limited, the value of the assets of Veda Group Limited and its 25% or more subsidiaries being greater than $100m. |
| Asset Value | Not specifically attributable, but greater than $100 million. (The book value of the gross assets of Veda's New Zealand subsidiary was recorded in its accounts as at 30 June 2015 as $274,961,000). |
| Applicant | Equifax Inc. United States Public (95.02%) United Kingdom Public (1.56%) Canadian Public (1.43%) Various overseas persons (1.99%) |
| Vendor | Existing shareholders of Veda Group Limited Australian Public (90.79%) United States Public (9.0%) New Zealand Public (0.19%) Various overseas persons (0.02%) |
| Background | Veda Group Limited provides credit data information to businesses and consumers. It operates in Australia, New Zealand, South East Asia and Saudi Arabia. The business of Veda Group Limited is directly comparable to the business of the Applicant. The Investment represents an opportunity for the Applicant to expand its business, and is consistent with its strategy to focus on expansion into attractive New Markets. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Michael Pollard Simpson Grierson Private Bag 92518 AUCKLAND 1141 |