Commonwealth Coat of Arms

 

Approval to hold a stake in a financial sector company of more than 20% No. 2 of 2023

Financial Sector (Shareholdings) Act 1998

 

To: The applicants listed in Schedule 1 (the Applicants) Since:

  1. On 24 February 2023, the Applicants applied to the Treasurer under section 13 of the Act for approval to hold up to a 100% stake in Optus Insurance Services Pty Limited ACN 005 711 928 (Optus Insurance) and each of the companies listed in Schedule 2, each a financial sector company under the Act (the financial sector companies);

 

B.            I am satisfied it is in the national interest for the Applicants to hold up to a 100% stake in Optus Insurance and each of the financial sector companies,

 

I, Sharyn Reichstein, a delegate of the Treasurer, under paragraph 14(1)(a) of the Act, approve the Applicants to hold up to a 100% stake in Optus Insurance and each of the financial sector companies.

 

This approval commences on the day it is made and remains in force indefinitely. Dated: 27 February 2023

 

 

 

 

 

Sharyn Reichstein General Manager Insurance Division

Australian Prudential Regulation Authority

 

Interpretation

 

Act means the Financial Sector (Shareholdings) Act 1998.

financial sector company has the meaning given in section 3 of the Act.

stake in relation to a company, has the meaning given in clause 10 of Schedule 1 to the Act.

Schedule 1 – the Applicants

  1. Wizard Purchaser LP (Delaware);
  2. Wizard Purchaser GP, LLC;
  3. Genstar Capital Partners X, L.P.;
  4. Genstar Capital Partners X (EU), L.P.; and
  5. Stargen X, L.P.

 

Schedule 2 – the financial sector companies in addition to Optus Insurance

  1. Likewize Olive Intermediate Holdings Pty Ltd ACN 656 108 619;
  2. Likewize Olive Holdings Pty Ltd ACN 656 107 970;
  3. Likewize Corp. (Delaware);
  4. Brightstar Global Group Inc. (Delaware);
  5. Resurgent Bidco Inc. (Delaware);
  6. Resurgent Midco Inc. (Delaware);
  7. Resurgent Holdco Inc. (Delaware); and
  8. Resurgent Newco L.P.