OIO Decision Summaries & Statistics - July 2009

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

Case number	Applicant	pdf	html
200810072	Christchurch Golf Resort Limited	view as pdf 57KB	view as html
200810082	BASF SE	view as pdf 56KB	view as html
200910081	Next Capital (Services A) Pty Limited	view as pdf 50KB	view as html
200910087	Willow Bay Company Limited	view as pdf 55KB	view as html
200910089	Westpac Banking Corporation	view as pdf 55KB	view as html
200910103	Kirin Holdings Company, Limited	view as pdf 58KB	view as html
200910107	New Zealand Agriseeds Limited	view as pdf 57KB	view as html
200910111	Viterra Inc.	view as pdf 48KB	view as html
200910116	Funds advised by CVC Asia Pacific Limited	view as pdf 59KB	view as html
200910118	Waiaua Bay Farm Limited	view as pdf 56KB	view as html
200910122	Contact Energy Limited	view as pdf 58KB	view as html
200910124	ANZ National Bank Limited	view as pdf 48KB	view as html
200910126	United States Department of the Treasury	view as pdf 48KB	view as html
200910131	UBS Australia Holdings Limited	view as pdf 59KB	view as html
200910132	Craggy Range Vineyards Limited	view as pdf 55KB	view as html
200910137	NGMCO, Inc.	view as pdf 49KB	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: 200910089, 200910118

Statistical information on Overseas Investment Office decisions for July 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 July 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 July 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).

	July 2009	Jan - July 2009	Jan - July 2008
Number of approvals	16	84	77
Net Investment $	28,623,043	139,141,912	977,265,005
Gross value of consideration	4,737,806,938	6,621,389,920	4,547,581,256
Asset Value	4,502,942,586	15,957,942,444	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:

• Overseas Persons proposed acquisition of up to 35 percent of the shares of Nuplex Industries Limited – a "net" investment of $20,052,800; and
• 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 July 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

	July 2009	Jan-July 2009	Jan-July 2008
Number of approvals	10	71	56
Net land area (ha)	216	13,665	6,504
Gross land area (ha)	686	199,131	14,107

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:

• Origin Energy Limited's proposed acquisition of up to the remaining 48.64 percent of the shares of Contact Energy Limited which owns or controls 10,822.3104 hectares of land situated at various locations throughout New Zealand – a "net" land area of 9,204.3750 hectares.
• Cambium Global Timberland Limited's proposed acquisition of 1,378.2374 hectares of land situated at Waihopai Forest Waihopai Valley, Marlborough – a "net" land area of 1,378.2374 hectares.
• 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.

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

	July 2009	Jan-July 2009	Jan-July 2008
Number of approvals	2	13	16
Net land area (ha)	(2)	916	14,251
Gross land area (ha)	61	90,693	24,579

In terms of "net" other interest land areas, the largest approval by the Overseas Investment Office in 2009 to date was for:

• Origin Energy Limited's proposed acquisition of up to the remaining 48.64 percent of the shares of Contact Energy Limited which owns or controls 1,074.5047 hectares of leasehold land situated at various locations throughout New Zealand – a "net" land area of 913.8662 hectares.

Approvals under the Fisheries Act 1996

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

	July 2009	Jan-July 2009	Jan-July 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 July 2009 and for the 2009 calendar year to date.

	July 2009	Jan-July 2009	Jan-July 2008
Number of Declines	0	0	2
Total proposed purchase price ($)	0	0	4,631,767,507
Total proposed area to be acquired (ha)	0	0	3,096

For more information contact:

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