KEY POINTS:
The Government's foreign transaction vetting watchdog has approved nine business deals worth $1.5 billion in its latest round of applications.
The Overseas Investment Office released its August decisions showing all applications made to it were approved and although the gross investment figure was $1.5 billion, the country would
get a net investment of only $281 million.
That is because in many cases, foreign entities were selling assets such as businesses or property to other foreign entities.
The net investment dollar figure represented the total dollar value invested, the office said.
"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 the New Zealand asset was 100 per cent Japanese owned, then no money would be added to the net investment total," the office said.
The biggest deal approved in August was a $173 million transaction for Australia's Valad Commercial Management to buy 23 Carter Holt Harvey properties.
KKR 2006 Fund and New Omaha Holdings from the United States got clearance to buy First Data Corporation, another US business, for $145 million. No land was involved but businesses based here were First Data NZ, Peace Software and Telecheck.
Oji Paper of Japan got approval for a $31 million deal to buy 4982ha of Hastings forestry from Nippon Paper Industries, also of Japan.
Brunswick International of the US was cleared to buy Rayglass Sales and Marketing, a New Zealand marine manufacturing business. The amount of money involved was suppressed.
AMP Capital Investors of Australia got clearance to buy property and business services from AMP Property Fund, 52 per cent Australian owned and 48 per cent New Zealand owned.
The office said this year's three largest approvals which are not subject to confidentiality were:
* YPG Finance's purchase of Yellow Pages Group and its trademarks and domain names which resulted in a net investment of $660 million.
* GDF-ILLP's purchase of business assets and undertakings of Peninsula Rd and Melview Viaduct Harbour, a net investment of $319 million.
* Valad Commercial Management as the responsible entity of the Valad Property Trust's purchase of 23 properties from Carter Holt Harvey.
In terms of net freehold land areas, the largest approvals so far this year after the Oji Paper deal which can be disclosed were:
* Barra Bidco's purchase of shares of EnviroWaste Services which owns 3767ha throughout New Zealand.
* Coleridge Downs' purchase of 1285ha of land at Dry Acheron Station in Canterbury's Rakaia Valley.
* The Ingleby Company's acquisition of 595ha of land at Whakaangiangi Rd in the Te Araroa area.