Deletion

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 Numbers 200710048, 200710049, 200710051 and 200710059.

Statistical information on Overseas Investment Office decisions for May 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 May 2007 and for the 2007 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 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).

 May 2007Jan - May 2007Jan - May 2006
Number of approvals165760
Net Investment $214,150,5322,880,200,8341,040,215,786
Gross value of consideration1,312,076,26010,198,949,0952,913,427,407

In terms of net investment, the three largest approvals by the Overseas Investment Office in 2007 to date, that can be disclosed were for:

  • YPG Finance Limited acquisition of up to 100 percent of the shares of Yellow Pages Group Limited and certain trade marks and domain names used by Yellow Pages Group Limited – a "net" investment of $629,582,000; and
  • PepsiCo New Zealand Holdings' acquisition of up to 100 percent of the shares of Bluebird Foods Limited – a "net" investment of $151,808,125;
  • Sirius NZ Finance Co Limited's acquisition of up to 100 percent of the shares of Blue Star Print Group Limited – a "net" investment of $129,810,825.

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 May 2007 and for the 2007 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

 May 2007Jan - May 2007Jan - May 2006
Number of approvals133748
Net land area (ha)7565,23814,071
Gross land area (ha)83515,62415,403

In terms of "net" freehold land areas, the two largest approvals by the Overseas Investment Office in 2007 to date that can be disclosed were for:

  • Barra Bidco Limited's acquisition of up to 100 percent of the shares of EnviroWaste Services Limited which owns 3,767.287 hectares of land situated throughout New Zealand – a "net" land area of 2,386.576 hectares; and
  • Coleridge Downs Limited acquisition of 1,285.2234 hectares of land situated at Dry Acheron Station, Coleridge Road, Rakaia Valley, Canterbury – a "net" land area of 1,285.2234 hectares; and
  • Price (Robert Athelstan) and Weiers (Carl-Josef Hubert) acquisition of 477.8 hectares of land situated at 1066 Mayfield Klondyke Road, Mondalto, South Canterbury – a "net" land area of 477.8 hectares.

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

 May 2007Jan - May 2007Jan - May 2006
Number of approvals4139
Net land area (ha)21344187
Gross land area (ha)22954324

In terms of "net" other interest land areas, the two largest approvals by the Overseas Investment Office in 2007 to date that can be disclosed were for:

  • Barra Bidco Limited's acquisition of up to 100 percent of the shares of EnviroWaste Services Limited which has 225.0222 hectares of leasehold land situated in Auckland and Waikato – a "net" land area of 142.5516 hectares; and
  • Takitimu Coal Limited's acquisition of 76.3 hectares of leasehold land situated at Ohai, Nightcaps, Southland – a "net" land area of 76.3 hectares; and
  • PIC NZ Holdings Limited acquisition of up to 100 percent of the shares of PIC New Zealand Limited which has 540.0144 hectares of leasehold land situated in Waikato and Canterbury – a "net" land area of 55.323 hectares.

Approvals under the Fisheries Act 1996

The table below shows the net fishing quota for which consent was granted to overseas persons in May 2007 and for the 2007 calendar year to date.

 May 2007Jan - May 2007Jan - May 2006
Number of approvals000
Net tonnes of Annual Catch Entitlement000
Gross tonnes of Annual Catch Entitlement000
Net Quota shares000
Gross Quota shares000

Applications declined

The table below shows investments for which consent was declined in May 2007 and for the 2007 calendar year to date.

 May 2007Jan - May 2007Jan - May 2006
Number of Declines031
Total proposed purchase price ($)02,018,337506,250
Total proposed area to be acquired (ha)02722

For more information contact:

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