Overseas investment decision for case 202300224 - KKR Clarendon Holdings L.P. | Toitū Te Whenua

Decision	Consent granted
Decision maker	Toitū Te Whenua Land Information New Zealand
Decision date	7 June 2023
Pathway(s)	Significant business assets
Investment	An overseas investment in significant business assets, being the Applicant’s acquisition of up to 26.3 % of the shares in Latitude Group Holdings Limited
Consideration / Asset value	$332,701,685
Applicant	KKR Clarendon Holdings L.P. USA (51%) Cayman Islands (13%) Canada (5%) Saudi Arabia (3%) Various (28%)
Vendors	KVD Singapore Pte. Ltd USA (45%) Germany (26%) Cayman Islands (5%) Singapore (4%) Canada (2%) Switzerland (2%) Saudi Arabia (1%) Various (15%)
Background	The Applicant is a special purpose vehicle managed and advised by Kohlberg Kravis Roberts & Co. L.P (KKR), a global investment firm. Latitude is an Australian based digital payments and lending platform, that operates in New Zealand. Their services include loans, credit cards and insurance. The Applicant currently owns an indirect 26.3% interest in Latitude, via their part ownership of the Vendor. This transaction will allow the transfer of the 26.3% interest in Latitude directly to the Applicant. The Decision Maker granted consent as it considered the Applicants have met the investor test criterion.
More information	Glenn Shewan Bell Gully PO Box 4199 Auckland 1140