Decision
 
Consent granted
Section 13(1)(a) Overseas Investment Act 2005
Decision makerOverseas Investment Office
Decision date31 October 2018
InvestmentAn overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 100% of the shares of Paymark Limited, the consideration of which exceeds $100m.
Consideration$190,000,000
ApplicantIngenico Group S.A.
European Public (25.92%)
French Public (25.11%)
Various overseas persons (23.05%)
North American Public (14.58%)
United Kingdom Public (11.34%)
VendorsWestpac NZ Operations Limited
Australian Public (76.1%)
Various overseas persons (21.9%)
New Zealand Public (2%)
ANZ Bank New Zealand Limited
Australian Public (72.89%)
United States Investors, United States of America (12.19%)
Various overseas persons (8.67%)
United Kingdom Investors, United Kingdom (4.55%)
Singapore Investors, Singapore (1.7%)
ASB Bank Limited
Australian Public (98.74%)
Various overseas persons (0.82%)
New Zealand Investors, New Zealand (0.44%)
BNZ Investments Limited
Australian Public (29.3%)
Various overseas persons (69.2%)
New Zealand Investors, New Zealand (1.5%)
Background

The Applicant is acquiring shares in Paymark Limited.  Paymark Limited is a provider of card present electronic transaction infrastructure and services in New Zealand. 

The Applicant advises it has over 35 years of experience providing payment solutions and provides one of the world’s largest payment acceptance networks (with over 30 million terminals installed globally).  As a global payment systems operator, the services and solutions it provides includes those of the type provided by Paymark.

The Applicant has satisfied the OIO that the individuals who will control the investment have the relevant business experience and acumen, and are of good character. The Applicant has also demonstrated financial commitment to the investment.

More informationTim Tubman / Joshua Pringle
Chapman Tripp
PO Box 2206
AUCKLAND 1140