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.

201810160
201900182
201900256
201900331
201900388
201900414
201900427
201900471
201900493

 

Statistical information on Overseas Investment Office decisions for 2019 Year to Date

The following statistical information shows consents granted or declined by the Overseas Investment Office for the sale of sensitive New Zealand land and significant business assets to overseas persons.  It does not necessarily indicate that a sale has taken place or will take place. 

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 for the 2019 calendar year to date and for the same time period in the preceding year. 

 January - October 2019January - October 2018
Number of approvals12176
Net investment $3,774,215,1732,601,752,229
Gross value of consideration17,074,790,3509,670,394,167
Asset value4,307,527,6311,837,000,000

In terms of net investment, the three largest approvals by the Overseas Investment Office in 2019 to date, that can be disclosed were for:

  • Bank of New Zealand and National Australia Managers Limited as trust manager of the BNZ RMBS Trust Series 2008-1’s proposed acquisition of part of a securitisation programme established by Bank of New Zealand in 2008 – a “net” investment of $1,231,375,000; and
  • Titan Acquisition Co New Zealand Limited’s proposed acquisition of up to 100% of the shares of Trade Me Group Limited – a “net” investment of $1,050,591,409; and
  • Global Valar, S.L.’s proposed acquisition of up to 100% of the shares of Restaurant Brands New Zealand Limited – a “net” investment of $575,906,300.

Total land area approved for sale to overseas persons

The tables below show the net area of land (in hectares) for which consent was granted to overseas persons for the 2019 calendar year to date and for the same time period in the preceding year.

Freehold land approved for sale
 January - October 2019January - October 2018
Number of approvals8141
Net land area (ha)120,0399,964

In terms of “net” freehold land areas, the three largest approvals by the Overseas Investment Office in 2019 to date that can be disclosed were for:

  • Kauri Forestry LP’s proposed acquisition of a “net” land area of 4,273.5029 hectares of freehold land situated at 134 Lagoon Hill Road, Tuturumuri, South Wairarapa; and
  • Kauri Forestry LP’s proposed acquisition of a “net” land area of 1,876.7519 hectares of freehold land situated at Lucas Road and Pokapu Road, Moerewa, Northland; and
  • Veronika Leeb-Goess-Saurau’s proposed acquisition of a “net” land area of 1,727.6902 hectares of freehold land situated at 1940-1941 Te Ore Ore Bideford Road & 73 Stoddarts Road, Masterton.
Other interests in land approved for sale (for example leases, crown pastoral leases and forestry rights)
 January - October 2019January - October 2018
Number of approvals2214
Net land area (ha)22,10039,579

In terms of “net” other interest land areas, the three largest approvals by the Overseas Investment Office in 2018 to date that can be disclosed was for:

  • Kaiwaka Joint Ventures’ proposed acquisition of forestry rights over a “net” land area of 1,649.3029 hectares of land known as Esk Forest in Hawkes Bay; and
  • Flock Hill Holdings’ proposed acquisition of a “net” land area of 135.5505 hectares of leasehold land situated at 1203 Craigieburn Road, Arthurs Pass; and
  • DLF Seeds A/S’ proposed acquisition of a “net” land area of 110.513 hectares of leasehold land situated at 388 Bennetts Road, Cust and 1052 and 1075 Springs Road, Christchurch, Canterbury; and
Summary of Approved Investments by Country3

In terms of net investment, the table below shows the top 5 countries involved in approvals by the OIO for the 2019 calendar year to date that can be disclosed.

CountryNet Investment $
Canada1,184,643,950
China520,213,325
Japan510,731,547
Singapore484,917,942
Denmark470,404,081

In terms of net freehold land area the table below shows the top 5 countries involved in approvals by the OIO for the 2019 calendar year to date that can be disclosed.

CountryNet Freehold Land Area (ha)
Canada10,222
United Kingdom9,157
Germany8,425
Switzerland7,323
Netherlands6,902

 

Applications declined

The table below shows investments for which consent was declined for the 2019 calendar year to date and for the same time period in the preceding year.

 January - October 2019January - October 2018
Number of declines62
Total proposed area to be acquired (ha)2,100263

The low level of applications declined is due to the following factors:

  • Applicants seek professional advice, and engage with the OIO, before submitting an application for consent.  They do not normally submit applications, and incur the associated costs, if they are unlikely to meet the criteria and factors test in the legislation.
  • The OIO’s pre-acceptance quality assurance check results in around 25 percent of applications being rejected at the outset. 
  • The OIO advises applicants if it intends to decline (or recommend decline) their application. Applicants often withdraw their application rather than have it declined.

These processes shows the rigor of the assessment process but is not reflected in the application declined figures. 

All Consent application stats (excluding One home to live in)

Number of decisions by type and delegation this year

DelegationMinisterOIO
DecisionApprovedDeclinedApprovedWithdrawnDeclined
January1 - -2-
February1-52-
March --8 -
April1-111-
May5211--
June1-15 --
July --131-
August21132-
September3115 --
October4213 --

Approved Consent stats (excluding One home to live in)

Total value, area, and net area by delegation this year

DelegationMinisterOIO
 CategoryGross area (ha)Net area (ha)Total valueTotal area (ha)Net area (ha)Total value
January2,411.040$46,000,000 - - -
February479.03467.96Confidential190.6-0.01Confidential
March - --1,397.22269.72Confidential
April162.4162.4$7,839,0002,319.141,874.01$3,980,584,868
May1,126.45339.39$697,590,00047,006.022,673.35Confidential
June197.48197.48$5,000,0003,946.913,924.80$1,023,264,850
July - --6,929.034,705.34$4,762,177,574
August887.90.15Confidential5,741.761,785.62$554,424,012
September282.352.21$54,000,0008,296.024,054.28$509,654,748
October881.26177.85$26,140,0001,530.731,503.88$3,342,986,883

Forestry stats (One off consents)

 ApprovedDeclinedTotal Area (ha)Net Area (ha) of approved applicationsGross Area (ha) of approved applications – existing forestryGross Area (ha) of approved applications – farm to forestry conversion*Total Value of approved applications
January-------
February1-187.660187.66-$4,300,000
March21,382.76260.471,382.76-$11,279,000
April11,727.691,727.69-1,727.69 (1,263)$13,420,000
May446,103.651,771.8344,331.821,771.83 (1,137)Confidential
June33,507.903,507.901,631.151,876.75 (948)Confidential
July56,389.074,527.541,404.674,984.40 (2,056)$56,628,204
August35,684.961,736.363,948.601736.36 (1,045)Confidential
September88,287.664,048.296,059.602228.06 (1,647)$91,986,838
October31,430.401,430.40419.701010.70 (715)$8,885,000

*Note that the figure in italics/brackets is the likely area of new planting. The remainder of the land will have other uses, including land that is either already in forestry or indigenous vegetation, will not be planted or will be subdivided and sold.

 

For more information contact:

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

Terms and Definitions

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 October 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).

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.  The figure includes:

  • land that is proposed to be acquired under the consent by overseas person from an existing overseas person. For example, if a entity being an overseas person acquires 10 hectares from existing overseas person the full 10 hectares is shown; and
  • land that is proposed to be acquired under the consent by New Zealand interests as well as overseas interests (for example, under a New Zealand/Australian joint venture).  For example, if a company (being an overseas person) that is 50% New Zealand owned and 50% overseas owned acquires 10 hectares, the full 10 hectares is shown; and
  • land that is owned by a entity where an overseas persons acquires an interest in the entity.  For example if an overseas persons acquires 10% of the shares in a company and that company owns 10 hectares of land, the full 10 hectares is shown.

1 The Gross land area was 74,874  ha in 2019 and  137,254 ha in 2018

2 The Gross land area was 8,912  ha in 2019 and 44,934 ha in 2018

3 The country “Net Investment $” and “Net Freehold Land Area” figures represent the total dollar value invested in New Zealand and the net land area being acquired by that country during the reporting period.  For example a Japanese entity acquiring 1,000 ha for $1 million from an Australian company would result in $1 million and 1,000 ha being added to Japan’s “Net Investment $” and “Net Freehold Land Area” totals and $1 million and 1,000 ha being deducted from Australia’s totals.