OIO Decision Summaries - September 2012

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The Overseas Investment Office has released the following decisions for September 2012.

Case numberApplicantpdfhtml
201110062MB Century Holdings Pte Limited (& Associates)view as pdf 28KBview as html
201210046
Rosebank Forest Products Limited and Southern Cross Forest Products Limitedview as pdf 28KBview as html
201210051Forestry Investments Limitedview as pdf 28KBview as html
201210069Sealord Group Limited, Westfleet Seafoods Limitedview as pdf 35KBview as html
201210082Premier Dairies Limitedview as pdf 27KBview as html
201210083Craggy Range Vineyards Limitedview as pdf 27KBview as html
201210094Avis HoldCo NZview as pdf 27KBview as html
201210095Goodman (Paihia) Limitedview as pdf 27KBview as html
201210096Timbergrow Limitedview as pdf 27KBview as html
201210099Tassilo Metternich-Sandorview as pdf 27KBview as html
201220004Richard Alan Kayne & Suzanne Laughinghouse Kayneview as pdf 27KBview as html
201220007Vodafone New Zealand Limitedview as pdf 27KBview as html
201220010Holcim (New Zealand) Limitedview as pdf 27KBview as html
201220011Patrick Farms LLCview as pdf 27KBview as html
201220021Heath Dwayne Sanchez & Rebecca Grace Sanchezview as pdf 27KBview as html
201220032Contact Energy Limitedview as pdf 27KBview as html

Schedule of 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:

201210094
201210095
201220032


Statistical information on Overseas Investment Office decisions for September 2012

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 September 2012 and for the 2012 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)..

 September 2012Jan-September
2012
Jan-September
2011
Number of approvals1690100
Net Investment $149,647,8451,377,430,5181,429,542,944
Gross value of consideration1,074,889,4913,305,980,32112,028,641,243
Asset Value01,128,233,693313,875,000

In terms of net investment, the three largest approvals by the Overseas Investment Office in 2012 to date, that can be disclosed were for:

  • IAG New Zealand Limited’s proposed acquisition of the assets and liabilities of AMI Insurance Limited – a “net” investment of  $380,000,000; and
  • Baywa Aktiengesellschaft’s proposed acquisition of up to 100% of the shares and options of Turners and Growers Limited – a “net” investment of $102,044,949; and
  • Foley Family Wines Holdings New Zealand Limited’s proposed acquisition of up to (and including) 90% of the ordinary shares of The New Zealand Wine Company Limited – a “net” investment of $45,997,501.
     

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 September 2012 and for the 2012 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

 September 2012

Jan-September 2012

Jan-September 2011
Number of approvals137378
Net land area (ha)3,49127,34160,188
Gross land area (ha)3,51335,208117,595

In terms of “net” freehold land areas, the three largest approvals by the Overseas Investment Office in 2012 to date that can be disclosed were for:

  • Milk New Zealand Holding Limited’s proposed acquisition of 7,892.5180 hectares of freehold land situated at various locations in the North Island – a “net” land area of 7,892.5180 hectares; and
  • Craigmore Sustainables (Forestry) N.V. & Craigmore Sustainables LLP’s proposed acquisition of 100% of the shares of Forestry New Zealand Limited which owns or controls 8,688.0269 hectares of freehold land located at Tiniroto Road (Riversdale - Wairoa), Sugar Loaf Road (Birch Hill – Pongaroa), Duncan Road (Makiri – Gisborne), Poroporo Road (East Cape), Oio Road (Patua – Taumaranui), Mangapoike Road (Te Puna – Wairoa) and Bruce Road (Waihora - Gisborne) – a “net” land area of 5,195.4401 hectares; and
  • Calvin Pardee Erdman’s proposed acquisition of the remaining 50% of the shares of Annavale Limited which owns or controls 2,687.9743 hectares of freehold land situated at SH 73, Springfield, Canterbury – a “net” land area of 2,687.9743 hectares.
     

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

 September 2012Jan-September 2012Jan-September 2011
Number of approvals31624
Net land area (ha)(1)34722,665
Gross land area (ha)1051585,241

In terms of “net” other interest land areas, the three largest approvals by the Overseas Investment Office in 2012 to date that can be disclosed were for:

  • ANZCO Foods Limited’s proposed acquisition of 210 hectares of leasehold land situated at Mossy Creek Road Ikamatua, West Coast – a “net” land area of 154.7096 hectares; and
  • Foley Family Wines Holdings New Zealand Limited’s proposed acquisition of up to (and including) 90% of the ordinary shares of The New Zealand Wine Company Limited which owns or controls 89.2123 hectares of leasehold land in Marlborough – a “net” land area of 85.2870 hectares; and
  • Baywa Aktiengesellschaft’s proposed acquisition of up to 100% of the shares and options of Turners and Growers Limited which owns or controls 195.0650 hectares of leasehold land in the Bay of Islands, Riwaka and Doubtless Bay areas – a “net” land area of 74.3670 hectares.
     

Approvals under the Fisheries Act 1996

The table below show the net fishing quota for which consent was granted to overseas persons in September 2012 and for the 2012 calendar year to date.

 September 2012Jan-September 2012Jan-September 2011
Number of approvals110

Applications declined

The table below shows investments for which consent was declined in September 2012 and for the 2012 calendar year to date.

 September 2012Jan-September 2012Jan-September 2011
Number of Declines005
Total proposed purchase price ($)0043,337,489
Total proposed area to be acquired (ha)0081

For more information contact:

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