OIO Decision Summaries & Statistics - February 2009

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The Overseas Investment Office has released the decisions and statistical information for February 2009.

Case number	Applicant	pdf	html
200820032	Fieldhouse Limited	view as pdf 55KB	view as html
200820036	BNZ AgriCapital Limited	view as pdf 58KB	view as html
200821543	Timothy James Cooper	view as pdf 56KB	view as html
200821564	Lend Lease Corporation Limited	view as pdf 59KB	view as html
200821569	QIC Private Capital Pty Limitedd	view as pdf 60KB	view as html
200821582	Contact Energy Limited	view as pdf 55KB	view as html
200821609	Contact Energy Limited	view as pdf 59KB	view as html
200821643	Holcim (New Zealand) Limited	view as pdf 59KB	view as html
200821660	Trustees of the J O Adams & Son Limited Pension Fund	view as pdf 59KB	view as html
200821667	Retirement Villages New Zealand Limited	view as pdf 58KB	view as html
200910037	Next Capital (Services A) Pty Limited as Trustee for the Next Capital Fund 1A and Next Capital (Services B) Pty Limited as Trustee for the Next Capital Fund 1B	view as pdf 52KB	view as html
200910039	QIC Private Capital Pty Limited	view as pdf 60KB	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 Number: 200820036

Statistical information on Overseas Investment Office decisions for February 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 February 2009 and for the 2009 calendar year to date.

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 February 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).

	February 2009	Jan - February 2009	Jan - February 2008
Number of approvals	12	22	17
Net Investment $	Confidential	Confidential	104,812,165
Gross value of consideration	Confidential	Confidential	1,962,348,299
Asset Value	1,524,863,000	Confidential	N/A

In terms of net investment, 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 – a "net" investment of $15,590,000.
• 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.
• Lend Lease Corporation Limited's proposed acquisition of 100 percent of the stapled securities of Babcock and Brown Communities Group – a "net" investment of $7,995,000.

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 February 2009 and for the 2009 calendar year to date.

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

	February 2009	Jan-February 2009	Jan-February 2008
Number of approvals	12	21	12
Net land area (ha)	1,419	1,957	266
Gross land area (ha)	1,680	2,823	450

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:

• Contact Energy Limited's proposed acquisition of 877.2772 hectares of land situated at Totara Downs, Onewhero, Franklin – a "net" land area of 712.3675 hectares.
• BNZ AgriCapital Limited's proposed acquisition of 46.2 percent of the shares of Lauriston Dairies Limited which owns or controls 377.4447 hectares of land situated at 1375 Line Road, Lauriston, Ashburton – a "net" land area of 377.4447 hectares.
• 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.

Other interests in land approved for sale (for example leases and crown pastoral leases)

	February 2009	Jan-February 2009	Jan-February 2008
Number of approvals	0	5	2
Net land area (ha)	0	2	14
Gross land area (ha)	0	25,980	71

Approvals under the Fisheries Act 1996

The table below show the net fishing quota for which consent was granted to overseas persons in February 2009 and for the 2009 calendar year to date.

	February 2009	Jan-February 2009	Jan-February 2008
Number of approvals	0	0	0
Net tonnes of Annual Catch Entitlement	0	0	0
Gross tonnes of Annual Catch Entitlement	0	0	0
Net Quota shares	0	0	0
Gross Quota shares	0	0	0

Applications declined

The table below shows investments for which consent was declined in February 2009 and for the 2009 calendar year to date.

	February 2009	Jan-February 2009	Jan-February 2008
Number of Declines	0	0	0
Total proposed purchase price ($)	0	0	0
Total proposed area to be acquired (ha)	0	0	0

For more information contact:

Overseas Investment Office
Land Information New Zealand
Ph: 04 462 4490
Email: oio@linz.govt.nz