KEY POINTS:
The prices paid for assets in four big foreign investment deals approved in September were suppressed in the latest decisions of a Government authority.
The Overseas Investment Office approved all 15 applications it processed and has just released details of those deals.
United States-owned business Gibbston Valley Station
is allowed to buy New Zealand-owned Glenroy Station for a secret sum.
The deal involves 433ha of land in Central Otago and plans are to develop a new tourist golf, horse and arts destination on the land.
Gibbston Valley Station wants to build 39 residential units, 30 golf course houses, 22 executive homes and an 18-hole golf course, designed by champion golfer Greg Turner, between the Kawarau River and the Gibbston Valley Highway.
The US business also plans to develop an equestrian riding centre, retreat lodge and complex for artisan craft and farmers' markets on the land.
The price of a big poultry business deal was suppressed.
Tegel Foods, an indirect wholly owned subsidiary of NZ Poultry Enterprises, struck an agreement to buy the Brinks business. To fund that, NZ Poultry Enterprises hatched an equity-raising scheme. The office said US-owned Pacific Partners Fund - part of Pacific Equity Partners - would buy shares in NZ Poultry.
So it cleared Pacific Equity Partners to buy 45 per cent of the shares in NZ Poultry Enterprises for a secret price.
NZ Poultry's owners are 59 per cent New Zealand, 29 per cent Australian, 11 per cent British and less than 1 per cent Dutch.
The 107ha of land involved in that deal is 3.5ha at Papakura, 89.9ha at Waitara and 13.6ha at Otaki.
The price of a big Auckland bus deal was also suppressed. Britain's Souter Holdings was cleared to buy Howick and Eastern Buses from Dalbeth family interests of New Zealand.
The office said a New Zealand citizen would be the sole director and shareholder of the applicant, Souter Holdings (No 2) but a Mr B. Souter of Scotland would fund the purchase and would exercise control over the investment.
The price paid by Singapore's Fleet NZ to the US-owned Pacific Leasing Solutions (NZ) was also suppressed. Tasman Capital, Ironbridge Capital, GIC Special Investments Private and investors proposed to buy all the shares in Pacific Leasing Solutions, the holding company of FleetPartners business in New Zealand, the office said in approving the application.
An Australian deal involving $185 million of New Zealand financial assets has been approved by the Government's foreign investment agency.
The office cleared the deal for Australia's Tasman Capital Partners to buy Pall Mall Hirequip from Aus Holdings (2008), wholly owned by Citigroup of the United States. The office said property and business service assets in various New Zealand regions were involved in the deal.
A $14.2 million deal involving 238ha of Southland property was approved. Premier Dairies No 6 of Ireland is buying assets from the Dutch-owned Van der Werf Farms.
Land near Winton will be developed so dairy stock can be fed indoors and this will expand Premier's dairying operations. Premier will be able to milk and supply milk for 12 months of the year as a result, the office said.
Paper Business, 33 per cent owned by Australians, got approval for a $10.5 million deal involving printer and publisher BJ Ball and 3ha of land at Southpark Place in Penrose.
Paper Business, formed specifically to buy BJ Ball Holdings, is owned by the AMP Pencarrow Fund, a joint venture between AMP Capital Investors (NZ) and Pencarrow Private Equity.
US-owned Redemption Song was cleared to buy 48ha of land at Dalesfield, Queenstown, from New Zealand's Little Ridge so a classroom could be built for Otago Polytechnic students and others.
British interests got approval to buy land near Tauranga for $800,000. Australia's BlueScope Steel was cleared to buy 4.6ha of farm land at Waiuku south of Auckland for $800,000 so it can expand the green belt or buffer zone around its Glenbrook steel mill.
European and American-owned AML got approval for a deal involving 2ha of leasehold land at McLeans Island Rd near Christchurch. The land is part of 1000ha owned by the Isaac Conservation Park and AML wants to build a new concrete plant there to replace existing operations.
Australia's Craigpine Timber was cleared to buy 231ha of land in Southland from Matariki Forests. Craigpine, a forestry business, already owns 3523ha of land in the area.
Britain's Ealfgifu is allowed to buy 22ha of Hawkes Bay land.
Kaituna Vineyards of Switzerland was cleared to buy 2.6ha of Marlborough land to add to its 23ha vineyard block.
THE RULES
Overseas investors need consent to buy:
* More than 5ha of rural land.
* More than 0.4ha of "sensitive" land.
* This could be reserve or scenic land.
* Covers historical and conservation land.
