September 2000 overseas investment approvals
CAFCA's analysis of the overseas investments approved by the Overseas Investment Commission in September 2000 are now available on CAFCA's web site At
CAFCA's submission on economic and trade relationships with Australia is also now on the site, at
The investments approved are listed below.
No applications were refused, maintaining a pattern.
The increasing concentration of our wine industry and the threatening takeover by Lion of Japan lead the stories.
Fishing company Ceebay is a joint venture between a Japanese company (Maruha Corporation) and a New Zealand company in which the Japanese company owns 24.9% but gets all the dividends. When changes were being considered to overseas investment rules which would have forced Maruha to sell its shareholding, it and the Japan Deep Sea Trawlers Association made truculent submissions positioning themselves for an action against the government.
September 2000 decisions
Montana takes Corbans, then Lion Nathan of Japan takes 28.2% of Montana Major French wine producer Henri Bourgeois buys land in Marlborough. . and Nobilo/BRL Hardy buys another vineyard in Hawkes Bay
Ceebay Holdings gets permission to continue to hold fishing quota
Commonwealth Bank of Australia takes last 25% of ASB Bank
WestpacTrust buys residential mortgages and loans from National Mutual/AXA
Hoyts back out of merger with Village Force
Italian firm buys dishwasher manufacturer, Washtech
Hertz Fleetlease buying vehicle leasing business from Hertz New Zealand
Change of Singapore owners to prepare for Queenstown hotel development
Pacific Steel buys land from Manukau City Council
Land for forestry
U.S. golf course owner in Kerikeri, Northland buys more land
Other rural land sales