|Toitū Te Whenua Land Information New Zealand
|7 June 2023
|Significant business assets
|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
KKR Clarendon Holdings L.P.
KVD Singapore Pte. Ltd
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.
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