| Decision | Consent Granted Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 7 October 2020 |
| Pathway(s) | Significant business assets only |
| Investment | An overseas investment in significant business assets, being a financing transaction carried out by the Applicant including assets exceeding $100m, as part of a securitisation programme established by the Applicant. |
| Consideration | The value of the financial assets that comprise the securitisation programme will, over time, exceed $100 million. |
| Applicant | Afterpay NZ Limited Australia (49%) United States of America (24%) China, People's Republic of (5%) United Kingdom (3%) Norway (2%) Various (17%) |
| Vendor | Afterpay NZ Limited Australia (49%) United States of America (24%) China, People's Republic of (5%) United Kingdom (3%) Norway (2%) Various (17%) |
| Background | The Applicant seeks consent for financial transactions under an existing securitisation programme entered into in August 2019. The Applicant is a New Zealand incorporated company providing payments solutions for customers and merchants in New Zealand and Australia through its ‘Afterpay’ and ‘Pay Now’ services and businesses. The ultimate owner of both the Applicant and Afterpay Holdings Pty Ltd is Afterpay Limited, an ASX-listed entity. The Applicant has satisfied the OIO that the individuals who will control the investment have the relevant business experience and acumen and are of good character. The Applicant has also demonstrated financial commitment to the investment. |
| More information | Cameron Peachey Mayne Wetherell PO Box 3797 AUCKLAND |