Decision Summary - Crescent Capital Partners Limited

The application has been approved as it met the criteria.

The Overseas Investment Office is satisfied that the individuals with control of the Applicant collectively have business experience and acumen relevant to the overseas investment, and that the Applicant has demonstrated financial commitment towards the overseas investment. The Overseas Investment Office is further satisfied that each individual that exercises control over the Applicant is of good character and is not an individual of the kind referred to in section 7(1) of the Immigration Act 1987.

Background and Outline of the Investment:
Crescent Capital Partners Limited (Crescent) proposes to acquire 100 percent of the ordinary shares of Abano Healthcare Group Limited (Abano), pursuant to an offer made in accordance with the Takeovers Code.

Abano, which is listed on the New Zealand Stock Exchange, is a specialist medical and healthcare organisation which was established in 1999. Abano operates in the Audiology, Dental, Diagnostics and Rehabilitation sectors. Abano's operations extend across a range of residential, medical and community facilities throughout New Zealand and in Australia, offering high quality healthcare and medical services.

Rationale for the Investment:
The proposed investment is consistent with Crescent's investment philosophy of assisting companies increase their value through the provision of capital and by providing advice at a strategic and board level. Crescent invests in companies which demonstrate certain factors including profitability, and strong and sustainable market positions.