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

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:

201220093
201310017
201310044
201310045
 

Statistical information on Overseas Investment Office decisions for May 2013

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 2013 and for the 2013 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 February 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)..

 May 2013January - May 2013January - May 2012
Number of approvals145139
Net Investment $199,012,370Confidential787,524,280
Gross value of consideration399,275,000Confidential1,423,167,365
Asset Value1,347,929,0001,553,379,001236,029,114

In terms of net investment, the three largest approvals by the Overseas Investment Office in 2013 to date, that can be disclosed were for:

  • MYOB Finance NZ Limited’s proposed acquisition of up to 100% of the shares of Media Transfer Services Limited – a “net” investment of $136,000,000;  
     
  • Precint Properties New Zealand Limited’s proposed acquisition of HBSC House situated at 1 Queen Street, Auckland – a “net” investment of $27,810,000; and
     
  • El Dorado Research Ventures Limited’s proposed acquisition of up to 100% of the shares of Endace Limited – a “net” investment of $19,142,730.

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 2013 and for the 2013 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 2013January - May 2013

January - May 2012

Number of approvals114131
Net land area (ha)12626,83412,424
Gross land area (ha)968108,08813,545

In terms of “net” freehold land areas, the three largest approvals by the Overseas Investment Office in 2013 to date that can be disclosed were for:

  • China National Forest Products Trading Corporation & China National Forest Products Industry Corporation’s proposed acquisition of 14,130.0455 hectares of freehold land situated in various North Island locations – a “net” land area of 14,130.0455 hectares; and
     
  • Craigmore Sustainables (Farming) N.V’s proposed acquisition of up to 95% of the securities in Craigmore Farming NZ LP which indirectly owns or controls 4,656.4911 hectares of freehold land situated in Gisborne, Taranaki and Canterbury – a “net” land area of 3,593.648 hectares; and
     
  • Oceana Gold (New Zealand) Limited’s proposed acquisition of 1,624.0521 hectares of freehold land situated at Matheson Road, Hyde, Otago – a “net” land area of 1,624.0521 hectares.

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

 May 2013January - May 2013January - May 2013
Number of approvals297
Net land area (ha)08245
Gross land area (ha)2431,601390
In terms of “net” other interests in land areas, the largest approval by the Overseas Investment Office in 2013 to date that can be disclosed was for:
 
  • Cheung Kong Infrastructure Group’s proposed acquisition of 100% of the shares of Barra Topco II Ltd which indirectly owns or controls approximately 406 hectares located at various locations around New Zealand being the sites of various refuse transfer stations, landfills and waste management related utilities – a “net” land area of 9.9594 hectares.

Approvals under the Fisheries Act 1996

The table below show the net fishing quota for which consent was granted to overseas persons in May 2013 and for the 2013 calendar year to date.

 

May 2013

January - May 2013January - May 2012
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 2013 and for the 2013 calendar year to date.

 May 2013January - May 2013January - May 2012
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