DecisionConsent granted
Section 13(1)(a) Overseas Investment Act 2005
Decision Date30 September 2016
InvestmentAn overseas investment in significant business assets, being the Applicant's acquisition of indirect rights or interests in 100% of the shares of Cigna Life Insurance New Zealand Limited through the acquisition of up to 100% of the shares of Cigna Corporation.
Asset Value$145,579,000
ApplicantAnthem, Inc.
United States Public (99.94%)
Various (0.03%)
Canada Public (0.02%)
United Kingdom Public (0.01%)
VendorExisting shareholders of Cigna Corporation
United States Public (99.97%)
Various (0.02%)
Canada Public (0.01%)
Background

Anthem, Inc., a United States health benefits corporation, proposes to merge with Cigna Corporation, a United States based global health services business.

The stated rationale for the proposed merger is to combine the businesses’ complementary consumer solutions and differentiated mix of products with a view to delivering cost savings and enhanced outcomes for customers, access to a broader portfolio of products and services and meaningful shareholder value.

The proposed merger will result in Anthem, Inc. acquiring an indirect interest in 100% of the shares of Cigna Life Insurance New Zealand Limited, an indirect, wholly-owned subsidiary of Cigna Corporation.

The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005.

More informationBradley Kidd
Chapman Tripp
PO Box 993
WELLINGTON 6140