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:
201020069
201020101
201020128
201110018
 


Statistical information on Overseas Investment Office decisions for March 2011

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 March 2011 and for the 2011 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 March 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)..

 March 2011Jan - March 2011Jan – March 2010
Number of approvals234520
Net Investment $54,553,536246,218,898160,064,071
Gross value of consideration171,992,9251,244,840,891459,898,566
Asset Value246,000,000246,000,000452,107,313


In terms of net investment, the three largest approvals by the Overseas Investment Office in 2011 to date, that can be disclosed were for:

  • Bank of New Zealand’s proposed acquisition of 0.4 hectares of leasehold land situated at 772 Colombo Street Christchurch – a “net” investment of  $46,306,356; and
  • Aquila AgrarINVEST Investitions GmbH, D/S Neuseeland Milchfarm Investitions GmbH and Alceda Star S.A. proposed acquisition of 124.1702 hectares of freehold land at 38 Scotts Gap Feldwick Road, RD2 Otautau, Southland – a “net” investment of $10,614,500; and
  • Regenal Investments Pty Limited’s proposed acquisition of 73 percent interest in the Challenger Wine Trust which owns or controls 360.7920 hectares of freehold land situated at 1370 Matapiro Rd, Crownthorpe, Hawkes Bay, 44.7681 hectares of freehold land situated at 169 Gimblett Rd and 2145 SHW 50, Fernhill, Hawkes Bay, 200.5190 hectares of freehold land situated at 1917 Redwood Pass Rd, Dashwood, Marlborough, and 142.1080 hectares of freehold land situated at Rarangi Vineyard, 53 Flaxmill Drive, Marshlands, Marlborough – a “net” investment of  $9,295,588.

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 March 2011 and for the 2011 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

 March 2011Jan - March 2011Jan – March 2010
Number of approvals203513
Net land area (ha)7,09226,8612,363
Gross land area (ha)21,49557,05681,167

In terms of “net” freehold land areas, the three largest approvals by the Overseas Investment Office in 2011 to date that can be disclosed were for:

  • Te Waihou Plantations Limited’s proposed acquisition of 17,289.4293 hectares of freehold land situated in the Central North Island  – a “net” land area of 16,528.6944 hectares; and
  • Timbergrow Limited proposed acquisition of 3,451.0400 hectares of freehold land at 2552 Waihopai Valley, Marlborough – a “net” land area of 3,451.0400 hectares; and
  • Monte Forestry Limited’s proposed acquisition of 1,628.9910 hectares of freehold land situated at Waiotahi Valley Road, Opotiki  - a “net” land area of 1,628.9910 hectares.

 

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

 March 2011Jan - March 2011Jan - March 2010
Number of approvals285
Net land area (ha)1(17)13,990
Gross land area (ha)8289927,762

Approvals under the Fisheries Act 1996

The table below show the net fishing quota for which consent was granted to overseas persons in March 2011 and for the 2011 calendar year to date.

 March 2011Jan - March 2011Jan - March 2010
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 January 2011.

 March 2011Jan - March 2011Jan - March 2010
Number of Declines120
Total proposed purchase price ($)3,800,0005,675,0000
Total proposed area to be acquired (ha)10350

For more information contact:

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