January to December 2008

Overseas Investment Office
Decisions

Commentary and Index prepared by CAFCA

(Note: the OIO decisions quoted here can be viewed here)

Contents

January 2008 decisions

Antipodean acquires Henderson, Auckland land as part of Spotlight purchase
Contact buys Tauhara, Taupo, Landcorp land for geothermal development
Crescent Capital Partners gets approval for failed bid to buy Abano Healthcare
Sogrape of Portugal buys Framingham Wine business from Pernod Ricard
Nobilo buys Waihopai Valley, Marlborough leasehold land for vineyard
Holcim acquires five properties for proposed Weston, Otago cement plant
Summary statistics

February 2008 decisions

Citigroup has approval to acquire Nikko Cordial Corporation for $723m
Macquarie Bank's Retirement Care (NZ) approved to acquire Qualcare
CVC Asia Pacific funds to acquire 65% and up to 100% of Stella Group
APEREF II may acquire remaining 40% of Great Northern Developments
NZ Poultry Enterprises approved to buy NZ Poultry Holdings (Tegel)
Borders gets approval to acquire 40% of A&R Whitcoulls Group
JAM world acquires further 10% of Marlborough vineyard joint venture
Summary statistics

March 2008 decisions

Goldman Sachs JB Were buy further 36% of Vision Senior Living, making 55% ... 1
… with view to development of retirement village at Carlaw Park, Auckland. 2
Woolworths Australia get approval to buy The Warehouse
. 3

Ernslaw One acquires Winstone Pulp, 14,000 ha Waimarino Forest, Karioi Forest 6
Trustpower acquires land for canal for Wairau Valley hydro scheme. 4
Fletchers acquires buffer land for Hunua Quarry, North Auckland. 6
Other land for forestry. 7
Land for wine. 8
Other rural land sales
. 9

Summary statistics

April 2008 decisions

. 9Sale of 40% of Auckland International Airport to Canada Pension Fund refused
Retrospective approval: Tourism Holdings buys leasehold from Hamilton City …
.. and another leasehold for same Hamilton development
EnviroWaste buying remainder of Manawatu Waste, to “increase market power”
Valad buys Carters depot, Tauranga, from Carter Holt Harvey for lease back …
… and 55 ha. in Northland from CHH for industrial park development
Trustpower buys Stillwater, Westland leasehold for Arnold Valley Hydro Scheme
Summary statistics

May 2008 decisions

Controversial Russian purchase of controlling interest in New Zealand Dairies
Toll buys United Carriers group of road freight companies
AMP buys remaining half share of three Auckland shopping centres for $414m
…ANZ's UCG Group buys Rhapsody rest home and hospital, New Plymouth …
… Macquarie's ElderCare buys three retirement villages in Invercargill …
… and Macquarie's Retirement Care (NZ) buys Nelson land to expand aged care
Valad Property Group with Kennards of Australia expands self-storage facilities
New Zealand Crane Group buys Porirua land for depot
Australian buys Te Hau Station and Moanui Station, Gisborne
Tiong family's Oregon Nurseries expands into neighbouring Oamaru nursery
Other rural land sales
Summary statistics

June 2008 decisions

Origin Energy buys Swift Energy's assets for $110m, including TAWN gas fields
US “Grave Dancer” may take 100% of Sanctuary Residences retirement villages
ASB sets up ASB Cash Fund
Quadrant Private Equity increases holding in Seniors Money
Brookfield Multiplex Developments buys Takapuna land for development
Trustpower buys 81 hectares in Marlborough for hydro scheme
Black family change ownership of Amalgamated Holdings forestry company
Holcim buys North Otago land after dumping on neighbour
Negociants acquires further 14 ha. vineyard at Renwick, Marlborough
Fletcher Concrete swaps sensitive Wiri land with 14 hectares of Crown land
Tourism Holdings to lease public land at Waitomo Caves
Summary statistics

July 2008 decisions

Cheung Kong of Hong Kong buys Vector's Wellington electricity network
Hewlett-Packard buys EDS
Rubicon allowed to acquire remainder of Tenon (former Fletcher Forests)
Porsche takes over Volkswagen
Eureka Funds of Australia buys Crowne Plaza Hotel, Christchurch…
… and Christchurch Hotels may buy Intercontinental's share of Premier Hotels
Kelly Tarlton's Underwater World sold to Village Roadshow
US company buys Christchurch land for well for water export business
ING (NZ) to lease 5 floors of St Laurence House, Quay St, Auckland
Kerikeri decision largely suppressed
English Vietnam-based banker buys 14,600 ha. Ryton Station at Lake Coleridge
Contact Energy buys 35 ha. of Taupo land from Landcorp for cooling water
Grandy Lake Forest of Germany buys Hawkes Bay land for forestry
Nobilo partnership acquires partner's 84 ha. to expand Marlborough vineyards
US investors approved to swap debt for 49% of Mondillo Vineyards, Otago
Australians buy lifestyle property at Lake Hawea
Summary statistics

August 2008 decisions

Andersons Bay Dunedin decision largely suppressed
CSR to buy Ross Roofing
Dixie Cummings of Australia expands into Aotearoa with Auckland joint venture
ABN Amro buys land for development from McConnell Property
Approval for failed British Gas bid for Origin Energy
UEM Group Berhad restructuring its Opus Group subsidiaries
Pernod Ricard buys 27 ha. of leasehold to expand its vineyards in Marlborough
Spanish buyer for 300 ha. Springs Junction beef farm
Summary statistics

September 2008 decisions

Souter takes over Howick and Eastern Buses Ltd
Citigroup sells Hirequip Ltd to Tasman Capital …
… and FleetPartners to three private equity corporations
Private equity purchase of business of BJ Ball, major paper wholesaler
PEP increases Tegel Foods holding to 45% to help pay for Brinks acquisition
US company buys Queenstown land for Otago Polytechnic
Allied Concrete leases Isaac Conservation Park land for concrete plant
New Zealand Steel buys more farm land for green belt around its steel mill
Land for forestry
Land for wine
Other rural land sales
Summary statistics

October 2008 decisions

Note
Application to buy Taihape land by U.K. pension fund refused
Castle Harlan buy Alleasing Trust for $122 million from Allco
Private equity corporation PEP buys further shares and notes of A&R Whitcoulls
BHP gets approval for failed takeover of Rio Tinto
ASB Group Investments Ltd sets up new unit trust for over $100 million
Little information released on Trilogy purchase of NZ Communications shares
Middle East company buys 50% of Great Northern Developments from AMP
PF Olsen for Australian fund buys 218 hectares in Ngatapa, Gisborne
Other land for forestry
Land for wine
Contact Energy acquires 45 hectares of Taupo land from Landcorp Farming
Rausing family (Ingleby Company) buys more land at Tokomaru Bay, East Cape
Other rural land sales
Summary statistics

November 2008 decisions

U.K. Government gets approval to acquire assets of Royal Bank of Scotland
News Corporation renews approval to acquire 100% of Sky Network Television
Red Earth Holdings gets approval to acquire all of PBL Media for $122 million
Ryton Station owner buys 10,655 ha. Glenthorne Station, Lake Coleridge
Contact Energy buys Pukekawa land for transmission line for new wind farm
Other rural land sales
Summary statistics

December 2008 decisions

Hong Kong application to take over New Zealand Steel Mining Limited refused
Lend Lease Corporation takes over Babcock and Brown's aged care operation
Onesteel may take full ownership of Steel and Tube Holdings (but didn't)
New Zealand Dairies of Russia buys a further 4 ha. at Waimate, Canterbury
Tenon buys 27 ha. of land at Matatoki, Coromandel for $1
Kodansha of Japan buys 894 ha. Cotton Forest and Drumfern Forest, Southland
Channel Islands company acquires Nau Mai on 6 hectares near Queenstown
Approval for 300 ha. purchase at Little River, Banks Peninsula by US investor
Canterbury decision largely suppressed
Summary statistics

 

 

Numbers of deleted or released decisions
before appeal

 

Jan 
2008

Feb 
2008

Mar 
2008

Apr 
2008

May 
2008

June 
2008

July 
2008

Aug 
2008

Sept 
2008

Oct 
2008

Nov 
2008

Dec 
2008

Total
2008

Deletions

6

2

2

2

3

3

1

2

5

6

1

3

36

Applications refused

0

0

0

2

0

0

0

0

0

1

0

1

4

Decisions released

10

7

11

9

15

11

16

8

15

17

6

9

134

 

Compiled by:
Campaign Against Foreign Control of Aotearoa,
P. O. Box 2258 
Christchurch.