The Overseas Investment Office has released the following decisions for this month.

Deletions

Schedule of deletions in terms of section 17 of the Official Information Act 1982 and under the provisions of sections 9(2)(b)(ii) and 9(2)(ba)(i) of that Act.

Decision No. D200710007

Statistical information on Overseas Investment Office decisions for January 2007

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 2007. The decision sheets for decision numbers 200710004 and 200710002 are not attached as these decisions were actually made in February and March 2007 respectively. Accordingly, decision sheet 200710004 will be released with the other February decision sheets at the end of March, and decision sheet 200710002 will be released with the other March decision sheets at the end of April.

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 under consents granted during the relevant period. The "gross value of consideration" figure may include 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.

The reference to "consideration" in the decision sheets and in this statistical information can refer to the amount proposed to be paid for the acquisition by the purchaser, or it can refer to the value of the securities (eg shares), or the value of the assets (eg of the company).

 January 2007January 2006
Number of approvals54
Net Investment $Confidential8,986,083
Gross value of considerationConfidential8,986,083

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 2007.

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 2007January 2006
Number of approvals34
Net land area (ha)341290
Gross land area (ha)396290

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

 January 2007January 2006
Number of approvals00
Net land area (ha)00
Gross land area (ha)00

Approvals under the Fisheries Act 1996

The table below show the net fishing quota for which consent was granted to overseas persons in January 2007.

 January 2007January 2006
Number of approvals00
Net tonnes of Annual Catch Entitlement00
Gross tonnes of Annual Catch Entitlement00
Net quota shares00
Gross shares00

Applications declined

The table below shows investments for which consent was declined in January 2007.

 January 2007January 2006
Number of declines11
Total proposed purchase price ($)840,000506,250
Total proposed area to be acquired (ha)1422

For more information contact:

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