OIO Decision Summaries & Statistics - January 2009
The Overseas Investment Office has released the decisions and statistical information for January 2009.
| Case number | Applicant | html | |
|---|---|---|---|
| 200720064 | Helena Bay Trustees Limited as trustee of the Abramov Family Trust | view as pdf 56KB | view as html |
| 200810073 | Shmuel Meitar | view as pdf 57KB | view as html |
| 200820001 | ING (NZ) Limited | view as pdf 60KB | view as html |
| 200820014 | MCC Van Uden Holding BV | view as pdf 56KB | view as html |
| 200820020 | Fletcher Distribution Limited | view as pdf 56KB | view as html |
| 200820025 | Thachi Holdings Pty Limited | view as pdf 55KB | view as html |
| 200820030 | ITOCHU Corporation and Daiken Corporation | view as pdf 56KB | view as html |
| 200821565 | CONFIDENTIAL | view as pdf 54KB | view as html |
| 200821570 | Holcim (New Zealand) Limited | view as pdf 56KB | view as html |
| 200821571 | Suntory (NZ) Limited | view as pdf 57KB | view as html |
Deletions
Schedule of deletions in terms of section 17 of the Official Information Act 1982 and under the provisions of sections 9(2)(a) and/or 9(2)(b)(ii) and/or 9(2)(ba)(i) of that Act.
Case Numbers: 200820025, 200821565, 200821571
Statistical information on Overseas Investment Office decisions for January 2009
The following statistical information shows consents granted or declined by the Overseas Investment Office for the sale of New Zealand land, business assets and fishing quota to overseas persons. It does not necessarily indicate that a sale has taken place or will take place. In addition, if a transaction for which consent is granted does proceed to sale, that sale will always take place after the consent has been granted. The settlement date will depend on the contractual arrangements between the vendor and the purchaser.
Value of investments to New Zealand
The table below shows the net dollar investment value to New Zealand and gross value of consideration of consents granted to overseas persons in January 2009.
Net investment dollars
"Net investment dollars" represent the total dollar value invested in New Zealand. For example, if a New Zealander sells a $100 million business to an Australian then the whole $100 million is added to the net investment total. However, if for instance the New Zealand asset was 100% Japanese owned, then $0 would be added to the net investment total. Thus, the net change in ownership of New Zealand assets is captured in the "total" net investment figure.
Gross value of consideration
"Gross value of consideration" represents the total consideration including GST (if any) to be paid for the acquisition of the assets, or the value attributed to those assets, under consents granted during the relevant period. The "gross value of consideration" figure for January includes consideration paid by New Zealanders (for example, an acquisition of a business by a New Zealand/Australian joint venture), and will not reflect the net change in ownership of New Zealand assets.
Consideration
The reference to "consideration" refers to the amount proposed to be paid for the acquisition by the purchaser.
Asset value
"Asset value" refers to the value of assets of the person being acquired (or the person being acquired and its 25% or more subsidiaries).
| January 2009 | January 2008 | |
|---|---|---|
| Number of approvals | 10 | 10 |
| Net Investment $ | 28,890,270 | Confidential |
| Gross value of consideration | 32,412,004 | Confidential |
| Asset Value | Confidential | N/A |
In terms of net investment, the two largest approvals by the Overseas Investment Office in 2009 to date, that can be disclosed were for:
- Helena Bay Trustees Limited as trustee of the Abramov Family Trust's proposed acquisition of up to 100 percent of the shares of Helena Bay Holdings Limited – a "net" investment of $15,590,000; and
- Thachi Holdings Pty Limited's proposed acquisition of 49.2572 hectares of freehold situated at Old House Road and 103 Best Road, Upper Moutere, Nelson – a "net" investment of $12,119,051.
Total land area approved for sale to overseas persons
The tables below show the net and gross area of land (in hectares) for which consent was granted to overseas persons in January 2009.
Net hectares
"Net hectares" represents the total land area proposed to be transferred into foreign ownership under consents granted during the relevant period. For example, if a New Zealander sells 10 hectares to someone from overseas, the whole 10 hectares is shown. However, if the seller was a company that was 50% New Zealand owned and 50% foreign owned then only five hectares would show in that column. Five hectares represents the "net" change in foreign ownership of New Zealand land.
Gross hectares
"Gross hectares" represents the total land area proposed to be acquired under consents granted during the relevant period. The figure will not show the seller's New Zealand ownership share (if any) (unlike the "net hectares" figure) and will include land that is proposed to be acquired by New Zealand interests as well as overseas interests (for example, under a New Zealand/Australian joint venture).
Freehold land approved for sale
| January 2009 | January 2008 | |
|---|---|---|
| Number of approvals | 9 | 8 |
| Net land area (ha) | 538 | 272 |
| Gross land area (ha) | 1,139 | 324 |
In terms of "net" freehold land areas, the three largest approvals by the Overseas Investment Office in 2009 to date that can be disclosed were for:
- Helena Bay Trustees Limited as trustee of the Abramov Family Trust's proposed acquisition of up to 100 percent of the shares of Helena Bay Holdings Limited which owns or controls 215.7449 hectares of land situated at Helena Bay Farm, Russell Road, RD$, Hikurangi, Northland – a "net" land area of 215.7449 hectares; and
- Itochu Corporation and Daiken Corporation's proposed acquisition of 159.1421 hectares of land situated at Upper Sefton Road and Lower Sefton Road, Canterbury - a "net" land area of 159.1421 hectares; and
- ING (NZ) Limited's proposed acquisition of up to 100 percent of the shares of ING Property Trust Management Limited which owns or controls 112.4336 hectares of land situated at various location in the North Island – a "net" land area of 110.0481 hectares.
Other interests in land approved for sale (for example leases and crown pastoral leases)
| January 2009 | January 2008 | |
|---|---|---|
| Number of approvals | 5 | 1 |
| Net land area (ha) | 2 | 22 |
| Gross land area (ha) | 25,980 | 22 |
Approvals under the Fisheries Act 1996
The table below show the net fishing quota for which consent was granted to overseas persons in January 2009.
| January 2009 | January 2008 | |
|---|---|---|
| Number of approvals | 0 | 0 |
| Net tonnes of Annual Catch Entitlement | 0 | 0 |
| Gross tonnes of Annual Catch Entitlement | 0 | 0 |
| Net Quota shares | 0 | 0 |
| Gross Quota shares | 0 | 0 |
Applications declined
The table below shows investments for which consent was declined in January 2009.
| January 2009 | January 2008 | |
|---|---|---|
| Number of Declines | 0 | 0 |
| Total proposed purchase price ($) | 0 | 0 |
| Total proposed area to be acquired (ha) | 0 | 0 |
For more information contact:
Overseas Investment Office
Land Information New Zealand
Ph: 04 462 4490
Email: oio@linz.govt.nz
