| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 30 September 2016 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of indirect rights or interests in 100% of the shares of Cigna Life Insurance New Zealand Limited through the acquisition of up to 100% of the shares of Cigna Corporation. |
| Asset Value | $145,579,000 |
| Applicant | Anthem, Inc. United States Public (99.94%) Various (0.03%) Canada Public (0.02%) United Kingdom Public (0.01%) |
| Vendor | Existing shareholders of Cigna Corporation United States Public (99.97%) Various (0.02%) Canada Public (0.01%) |
| Background | Anthem, Inc., a United States health benefits corporation, proposes to merge with Cigna Corporation, a United States based global health services business. The stated rationale for the proposed merger is to combine the businesses’ complementary consumer solutions and differentiated mix of products with a view to delivering cost savings and enhanced outcomes for customers, access to a broader portfolio of products and services and meaningful shareholder value. The proposed merger will result in Anthem, Inc. acquiring an indirect interest in 100% of the shares of Cigna Life Insurance New Zealand Limited, an indirect, wholly-owned subsidiary of Cigna Corporation. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Bradley Kidd Chapman Tripp PO Box 993 WELLINGTON 6140 |