Suppressed Overseas Investment Figures

CAFCA RELEASES FIGURES SUPPRESSED BY OVERSEAS INVESTMENT OFFICE

The Campaign Against Foreign Control of Aotearoa (CAFCA) receives the monthly Decisions (i.e.approvals, plus the very rare refusals) from the Overseas Investment Office.

The OIO routinely withholds Decisions (which we appeal to the Ombudsman, sometime successfully) and it also routinely withholds details of those Decisions that it does release, usually the price paid by the foreign buyer.

However, in the latest batch of Decisions that we have analysed (January-April 2008) we have been able to calculate some of those purchase prices from the accompanying statistics supplied by the OIO.

They are:

Framingham Wines Limited was bought by Sogrape Investimentos SGPS, SA of Portugal for $13,104,500.

Retirement Care (NZ) Limited, owned by three Macquarie Bank funds, acquired aged care operator Qualcare Group Holdings Limited for $267,054,250.

NZ Poultry Enterprises Limited, owned by private equity investor PEP, acquired NZ Poultry Holdings Limited (owner of Tegel chicken) for $563,029,750.

EnviroWaste, owned by private equity corporation, Ironbridge through Barra Topco II Ltd, bought the 50% of Manawatu Waste it did not already own, and Ironbridge bought the shares it did not already own in Barra Topco II Ltd, for a combined total of $37,590,000.

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