| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 30 June 2023 |
| Pathway(s) | Significant business assets |
| Investment | Acquisition of 100% of the shares in Resolution Life Group Holdings Ltd. and RLGH US Parent, Inc. |
| Consideration | Approximately $4,928,000,000 |
| Applicant | Blackstone ISG Investment Partners – R (BMU) L.P. Japan (23.1%) Australia (21.8%) United States of America (16.4%) United Arab Emirates (11.4%) United Kingdom (10.2%) Various (17.1%) |
| Vendor | Resolution Life Group Holdings L.P. Australia (37.6%) United States of America (17.1%) Japan (13.2%) United Kingdom (10.8%) Various (21.3%) |
| Background | The Applicant is a Bermuda limited partnership that has been established to be the ultimate holding entity of Resolution Life Group Holdings Ltd and its subsidiaries. The Applicant is the vehicle through which the investors will invest in Resolution Life Group. The Applicant has been granted consent to acquire 100% of the shares of Resolution Life Group Holdings Ltd. and RLGH US Parent, Inc. (which has no interest in New Zealand assets) in exchange for limited partnership interests in the Applicant. The Resolution Life Group is a global insurance, reinsurance, and risk transfer business. The Group’s New Zealand business was recently the subject of applications under:
LINZ granted consent as it considered the Applicant met the investor test. |
| More information | Igor Drinkovic MinterEllisonRuddWatts Level 22/15 Customs Street West Auckland 1010 New Zealand |