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

Case number Applicant
201510035 Nelson Forests Limited
201510056 Andros et Cie SAS
201520035 Andros et Cie SAS

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 No.

201510056

Statistical information on Overseas Investment Office decisions for August 2015

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 August 2015 and for the 2015 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 August 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).

 

August 2015January – August 2015January – August 2014
Number of approvals37793
Net investment $ConfidentialConfidential763,931,303
Gross value of considerationConfidentialConfidential3,371,586,725
Asset value02,869,003,951357,458,654

In terms of net investment, the three largest approvals by the Overseas Investment Office in 2015 to date, that can be disclosed were for:

  • Tripod Limited’s proposed acquisition of up to 100% of the shares of CallPlus Group – a “net” investment of $247,200,000; and
  • Aitken Street Real Estate Netherlands B.V. & Credit Suisse Funds AG’s proposed acquisition of 0.5365 hectares of freehold land situated at 19 Aiken Street Wellington– a “net” investment of $161,873,369; and
  • Viaduct Corporate Centre Limited’s proposed acquisition of the Air New Zealand Building and Fonterra Building at Fanshawe Street, Auckland – a “net” investment of $55,806,786.

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 August 2015 and for the 2015 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

 August 2015January – August 2015January – August 2014
Number of approvals35673
Net land area (ha)24320,99116,277
Gross land area (ha)25041,08325,355

 

In terms of “net” freehold land areas, the three largest approvals by the Overseas Investment Office in 2015 to date that can be disclosed were for:

  • Mount Creighton Station Limited (as trustee for Mount Creighton Joint Venture)’s proposed acquisition of approximately 5,347 hectares of freehold land at Mt Creighton Station, located approximately 25kms northwest of Queenstown – a “net” land area of 3,560.9772 hectares; and
  • New Zermatt Properties Limited’s proposed acquisition of 2,944.0304 hectares of freehold land at Mt Isthmus Station, Makarori-Hawea Road, Hawea – a “net” land area of 2,944.0304 hectares; and
  • Tanupara Asia Limited’s proposed acquisition of approximately 2,583.7152 hectares of freehold land at 756 Mangaeturoa South Road, Raetihi – a “net” land area of 2,583.7152 hectares.

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

 

August 2015January – August 2015January – August 2014
Number of approvals01314
Net land area (ha)0831259
Gross land area (ha)01,7831,095

 

In terms of “net” other interest land areas, the three largest approvals by the Overseas Investment Office in 2015 to date that can be disclosed were for:

  • Kawakawa Station Limited’s proposed acquisition of 785.6491 hectares of leasehold land at Cape Palliser Road, Wairarapa – a “net” land area of 785.6491 hectares; and
  • Carter Holt Harvey Group Limited’s proposed initial public offering of the building supplies group which owns or controls 30.0304 hectares of leasehold land situated at various places throughout New Zealand – a “net” land area of 24.0243 hectares; and
  • Waste Management NZ Ltd’s proposed acquisition of up to 100% of the shares of Living Earth Limited which owns or controls 12 hectares of leasehold land at 600 Island Road, Puketutu Island and 7.1067 hectares of leasehold land at 40 Metro Place, Bromley, Christchurch – a “net” land area of 15.3484 hectares.

Approvals under the Fisheries Act 1996

The table below show the net fishing quota for which consent was granted to overseas persons in August 2015 and for the 2015 calendar year to date.

 August 2015January – August 2015January – August 2014
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 August 2015 and for the 2015 calendar year to date.

 

August 2015January – August 2015January – August 2014
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

oio@linz.govt.nz