Summer services update
| Decision | Consent granted Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 1 March 2023 |
| Pathway(s) | Significant business assets National interest assessment |
| Investment | Acquisition of 100% of the shares in Pushpay Holdings Limited |
| Consideration | $1,529,000,000 |
| Applicant | Pegasus Bidco Limited USA (36%) Canada (20.04%) Singapore (20.91%) Australia (5.09%) Various (17.96%) |
| Vendor | The shareholders of Pushpay USA (40%) New Zealand (35%) Australia (11%) Canada (3%) Various (11%) |
| Background | Pegasus Bidco has been granted consent to acquire 100% of the shares in Pushpay Holdings Limited. Pushpay is a software and service payments technology company that provides donor management software to support donations to non-profit organisations, religious sectors, and education providers. Pegasus Bidco is ultimately owned by funds managed or advised by certain affiliates of private equity firm BGH Capital Pty Ltd, and global investment firm Sixth Street. LINZ is satisfied the investor test has been met. The Minister of Finance has decided that the investment is not contrary to New Zealand national interests. |
| More information | Glenn Shewan Susie Kilty |
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