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January to December 1995
Overseas Investment Commission
Decisions
Commentary and Index prepared by CAFCA
Contents
January 1995 decisions
T/A Pacific shareholding makes Apple Fields an overseas company
Anglian Water: first project running wastewater treatment plant in Wellington
Aspinall increases shareholding in Christchurch Casinos
OPSM buys seven stores, becomes biggest dispensing optician in Aotearoa
Tasman Properties buys Benjamin Developments
Black family of Australia increases shareholding in Bowker Hldgs, farm owner
Other rural land
Internal restructuring of ownership of Guardian Assurance
February 1995 decisions
Sea Shuttles owner increases shareholding
Regency Duty Free Stores taken over by Allders of the U.K.
Associate Gold Fields of Australia takes over Kiwi International
Restech International restructured; HK, Australia, Cook Islands connections
SmithKline Beecham of UK buys Sterling Winthrop from Kodak
Premier Hotels (Japan) increases ownership of Christchurch Casinos
Asia Pacific Breweries Ltd of Singapore increases shareholding in DB
HK and Shanghai Bank mortgage over SEABIL and Trans Tasman Properties
Potter Warburg gets approval to complete takeover of Buttle Wilson
National Mutual buys 132 Vincent Street, Auckland for $14 million
Tiong subsidiary, Neil Construction, buys further land in Albany
Danne Mora and Fulton Hogan of the U.K. buy Howick land for subdivision
Other rural land
Finnish Hawkes Bay land owner restructures
Other internal restructuring
March 1995 decisions
Electricorp sells maintenance subsidiary, Powermark, to GEC Alsthom
ICI buys chemical distributor Chemical Cleaning Ltd from Burns Philp
AFFCO offers shares to overseas owned institutions
Singapore company takes over Renaissance Software
Tiong controlled Ascot Management takes over Force Cinemas
Pacific Group of Singapore in Christchurch and Queenstown developments
Rifgac and Yandina of Australia acquire 45% of partnership with financiers
Apple Fields reorganises ownership of land to unroll tax avoidance scheme
Other rural land
Internal restructuring
April 1995 decisions
Tiong group increases ownership of Regal Salmon to over 47%
Richina of China/U.S.A. approved to take over Mainzeal construction company
Lopez Mena has approval for 100% ownership of Sea Shuttles
Pilkington of U.K. buys Smith and Smith Glass from Carter Holt Harvey
Eltin of Australia sets up subsidiary to excavate Macraes gold mine
Nissan of Japan buys remaining 2% of Nissan Datsun Holdings for $1 million
Rural land
Guardian Assurance restructures again
May 1995 decisions
Transnational drugs companies, Glaxo and Wellcome merge
Xylem buys shares in Fletchers, making it over 44% overseas owned
Chelsea, CSR subsidiary, buys remaining 49% of Monier Brickmakers
Energy Corporation of U.S.A. petroleum prospecting in South Wanganui
Malaysian company sets up subsidiary to restore old BNZ site in Wellington
Tiong subsidiary buys 151 hectares in Manawatu from Crown for $40,000
Macraes Mining buys 764 hectares more land at Macraes Flat, Otago
Other rural land
CS First Boston sets up six subsidiaries
Tranz Rail transfers operational assets to subsidiary
Fulton Hogan amalgamates subsidiaries
June 1995 decisions
O’Reilly’s Independent Newspapers takes over Wilson and Horton
Huttons Kiwi sold to Japanese syndicate
Jumabhoy family of Singapore takes control of Noel Leeming
Apple Fields gets retrospective approval for 1,900 hectares of land acquisitions
Zuellig reorganises its Stevens KMS and CB Norwood subsidiaries
Avnet of U.S.A. buys VSI Electronics from U.K. firm
Norton of U.S.A. takes over Artec Abrasives
General Reinsurance and Cologne Reinsurance merge
Lincoln Road Shopping Centre, Henderson, sold to Australian mortgagee
Fijian buys remainder of company owning Auckland land for subdivision
Brunei/Singapore company plans commercial development of Auckland land
Australian Gerard Industries buys Blue Point Products and Canterbury farm
Pacific Group of Singapore buys Farmers Building in Auckland
Morton Estate, vineyard owner, sold to Coney family of Canada
Korean transnational prayer/retreat centre acquires 12 ha. land at Akaroa
Carter Holt buys forestry rights in Waikato, Taranaki, and Bay of Plenty
Other rural land
Internal restructuring
July 1995 decisions
National Power of U.K. approved to build Stratford Power Station with Todd
Transmark of Hong Kong approved to buy U-Bix
New Zealand Land trust of Singapore may buy City Life Apartments, Wellington
Pepin Island, Nelson, sale to Netherlands resident approved
JANZ syndicate of Japan gets approval to buy remainder of Huttons Kiwi
Kingsgate International of Singapore may issue more shares to owners
Singapore/Malaysia consortium may buy James Cook Hotel, Wellington
U.S. company to buy Aurora House, Wellington for $36 million
Singaporean Hind Hotels buys factories from Skellerups to lease back
Permanent Trustee Australia Ltd sets up Big Bonds
Benchmark Building Supplies of Australia leases land in Tamaki, Auckland
Swift Energy of U.S.A. may prospect for and exploit petroleum resources
“Regularisation” of Apple Fields land purchase, and Killinchy Gold Dairy Foods
Blocks of land at Paparangi, Wanganui, sold to Taiwan, Hong Kong residents
Hong Kong residents buy 103 ha. at Kerikeri for lifestyle and orchards
Evergreen Forests of U.S.A. buy 4,000 ha. near Gisborne for forestry
Rayonier and RII of U.S.A. combine Wanganui forest holdings
Other rural land
Milburn of Switzerland restructures McDonalds lime and coal subsidiaries
August 1995 decisions
Telecom shareholding in Sky approved despite dominance concerns
TransAlta of Canada, Mercury and Fletchers may build Stratford Power Station
Japanese JANZ consortium approved; takes majority of Huttons Kiwi
Tiongs take over Salmond Smith Biolab to merge with Regal Salmon
Marubeni/Marusumi joint venture to build woodchipping plant near Whangarei
Tasman Properties merges with SEABIL to make biggest property owner
Alliance Group issues shares to overseas banks and financial institutions
Singapore company plans telecommunications network
Tseng of Taiwan takes control of Queenstown hotel and Auckland golf course
More blocks of land at Broadwood and Paparangi sold to Taiwanese
Other rural land
September 1995 decisions
TransAlta takes control of EnergyDirect
Changes in the Insurance industry
Wattyl takes over Taubmans architectural and decorative paint business
Increase in Singapore Government share in BellSouth cellphone network
Unilever’s Abels division sold
Auckland Airport Hotel sold to Hotel Grand Central of Singapore
Janz gets approval to buy Meat Board’s shares in ANZCO
Tiong family of Malaysia continues to expand interests in fish and forestry
Six more blocks of land bought for forestry by Carter Holt
More Telecom cellphone sites
And more blocks of land sold to Taiwanese investors
Other rural land sales
Internal restructurings
October 1995 decisions
Kraft products and assets sold to Heinz/Watties
Fulton Hogan and Auckland Regional Services Trust form rubbish joint venture
DB Corbans sells its share in Sainte Neige Wines to Japanese shareholders
Gold Resources becomes wholly owned subsidiary of Mineral Resources
Brierley’s Guinness Peat after Colonial Motor Co
Asian New Zealand Meat Company takes remaining 50% of Five Star Beef
Grocorp buys Hawkes Bay asparagus supplier
Further land sales to Taiwanese investors
Carter Holt continues to buy up blocks of land, including one from the Crown
Other rural land sales
Internal restructurings
November 1995 decisions
Kenmare of U.S.A. takes over APV Moffat
EnviroWaste Services buys, leases Dunedin Landfill Site from itself
Sale of Auckland Regent Hotel to Indonesians approved
Mainzeal trying to get full control of Mair Astley
Utilicorp gets approval to own 49% of WEL Energy
PHII of the U.S.A. buys land at Karikari, Northland for residential subdivision
Further land sales to Taiwanese investors
Wharekauhau Lodge sold to U.S. interests
Christchurch Coutts Island golf course development changes ownership
Other rural land sales
Internal restructurings
December 1995 decisions
National Australia Bank takes control of BNZ Finance
Helicopter Line buys Tourist Hotel Corporation hotels from U.S. owners
U.S. company takes over two vehicle suspension spring manufacturers
Wilson and Horton and Australian Consolidated Press magazine joint venture
Direct Capital Partners Ltd to issue further shares; gets retrospective consent
Australian fund floated to invest in technology securities in the U.S.A.
Retrospective approvals to New Zealand Oil and Gas going back to 1981
Lease of Southdown land for TransAlta/Mercury Energy power station
Gulf Resources in joint venture to subdivide 135 hectares on Waiheke Island
Carter Holt Harvey buys more land, some in joint ventures, including Shell
Telecom acquires four more cell sites
Other rural land sales
Internal restructurings
Numbers of deleted or released decisions before appeal |
