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:
201010049
201010054
201010057
201010062

 

Statistical information on Overseas Investment Office decisions for July 2010

 

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 2010 and for the 2010 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 April 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 2010Jan – July 2010Jan - July 2009
Number of approvals145684
Net Investment $6,014,383248,480,615116,337,194
Gross value of consideration116,516,6381,079,108,8656,684,545,795
Asset Value4,275,385,67710,381,038,29615,409,889,444

 

In terms of net investment, the three largest approvals by the Overseas Investment Office in 2010 to date, that can be disclosed were for:

 

  • Amalgamated Holdings Limited's proposed acquisition of up to 100 percent of the shares of Skycity Cinema Holdings Limited – a "net" investment of $42,323,970; and
  • The Saint James Company LLC's proposed acquisition of up to 100 percent of the shares of Bolitho Vineyards (Hope) Limited and Waimea Estates (Nelson) Limited and 69.9426 hectares of freehold land situated at Hope and Appleby, Nelson – a "net" investment of $34,571,250; and
  • CSG Limited's proposed acquisition of up to 100 percent of the shares of Leasing Solutions Limited and Onesource Group Limited – a "net" investment of $23,232,000.

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 July 2010 and for the 2010 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 2010Jan - July 2010Jan - July 2009
Number of approvals63270
Net land area (ha)5503,98913,728
Gross land area (ha)2,16384,665199,130

In terms of "net" freehold land areas, the three largest approvals by the Overseas Investment Office in 2010 to date that can be disclosed were for:

  • Ding Furu's proposed acquisition of 1,921.2706 hectares of freehold land situated at State Highway 1, near Puhoi, Northland – a "net" land area of 1,752.2758 hectares; and
  • Grandy Lake Forest (NZ) Limited’s proposed acquisition of 683.7068 hectares of freehold land situated at State Highway 2, Wairoa – a “net” land area of 683.7068 hectares; and
  • Stanley Vester Simpson's proposed acquisition of 427.5445 hectares of freehold land situated at Waitaria Bay, Kenepuru Sound, Marlborough Sounds – a "net" land area of 427.5445 hectares.

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

 July 2010Jan - July 2010Jan - July 2009
Number of approvals31411
Net land area (ha)1214,0081,120
Gross land area (ha)1527,78690,685

In terms of "net" other interest land areas, the largest approval by the Overseas Investment Office in 2010 to date that can be disclosed was for:

  • Coast Range New Zealand LLC's proposed acquisition of up to the remaining 75.1 percent of the shares of Flock Hill Holdings which owns or controls 13,988.6306 hectares of leasehold land situated at State Highway 73, West Coast Road between Castle Hill Village and Cass – a "net" land area of 13,988.6306 hectares.
  • Craggy Range Vineyards Limited’s proposed acquisition of 9.8210 hectares of leasehold land situated at Old Renwick Road, Marlborough– a “net” land area of 9.8210 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 2010 and for the 2010 calendar year to date.

 July 2010Jan - July 2010Jan - July 2009
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 July 2010 and for the 2010 calendar year to date.

 July 2010Jan - July 2010Jan - July 2009
Number of Declines000
Total proposed purchase price ($)000
Total proposed area to be acquired (ha)000

For more information contact:

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