Archive for April, 2011

New Contestable NZ$850,000 fund to encourage New Zealand red meat sector

Comments Off | 04-30-2011

A fresh NZ$850,000 contestable fund has been established to fund the growth of the New Zealand red meat industry, reported the New Zealand Herald. The red meat industry is New Zealand’s second biggest export earner.
The Red Meat Market Development Contestable Fund is a joint initiative between New Zealand Trade and Enterprise and Beef and Lamb, [...]

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Posted in Finance New Zealand, Foreign Direct Investment/FDI New Zealand, General | Read More

Energy generator and retailer Contact Energy in raising to support future growth

Comments Off | 04-29-2011

Energy generator and retailer Contact Energy has announced a one-for-nine renounceable rights issue to raise around $350 million to help fund new geothermal electricity generation plant.
The new Contact Energy shares will be open to existing New Zealand and Australian shareholders, at an offer price of NZ$5.05 per share. This represents a 13.8 percent discount to [...]

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Posted in Foreign Direct Investment/FDI New Zealand, General | Read More

Auckland Council avails $3 million for ratepayers keen to insulate their homes

Comments Off | 04-28-2011

According to the NZ Herald, the Auckland Council has availed NZ$3 million for kiwi ratepayers wanting to insulate their homes in the city. The amount was voted during a meeting last week, marking an expansion of the Retrofit Your Home program available in West Auckland. Auckland Mayor Len Brown and councilors voted for the energy [...]

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Posted in Foreign Direct Investment/FDI New Zealand, General | Read More

Olam International in bid to buy out New Zealand Farming Systems

Comments Off | 04-26-2011

Olam International Limited has notified NZ Farming Systems Uruguay Limited (NZFSU) of its intention to make a cash offer at NZ$0.70 per share for all of the shares in NZFSU that it does not already own.
Olam is currently the largest shareholder in NZFSU with a 77.98 per cent shareholding following the takeover offer for NZFSU [...]

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Posted in Agriculture New Zealand, Foreign Direct Investment/FDI New Zealand, General | Read More

Fresh Capital fund to help expand NZ start-ups

Comments Off | 04-26-2011

A new local venture fund is to invest an estimated $50 million in New Zealand start ups, reported the NZ Herald. Movac Partners will invest the sum in about 10 upcoming New Zealand firms. According to Movac, local start-ups are facing massive challenges securing expansion-phase funding. Most of the startups have either been forced out [...]

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Posted in Finance New Zealand, Foreign Direct Investment/FDI New Zealand, General | Read More

Basque train maker and a Hyundai subsidiary in bid for $500 million deal for new trains in Auckland

Comments Off | 04-25-2011

According to Stuff New Zealand, a Basque train maker and a Hyundai subsidiary are in the running for the $500 million contract to provide Auckland’s new trains. New Zealand’s state owned rail operator KiwiRail revealed a short list for the 38 new electric trains and maintenance contracts. Basque based Construcciones y Auxiliar de Ferrocarriles (CAF) [...]

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Posted in Foreign Direct Investment/FDI New Zealand, General, Infrastructure NZ | Read More

Telecom and Vodafone win New Zealand government’s Rural Broadband Initiative Contract

Comments Off | 04-23-2011

The New Zealand government Thursday sealed a $285 million contract with Vodafone and Telecom for its Rural Broadband Initiative. With that, rural New Zealander’s who buy a new wireless broadband service from Vodafone will need to live with a 10-gigabyte daytime internet traffic cap if they want to get the service at the lowest price, [...]

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Posted in Foreign Direct Investment/FDI New Zealand, General | Read More

Silver Fern Farms to set up new plant on its Te Aroha site

Comments Off | 04-22-2011

Silver Fern Farms announced plans Wednesday to build a new high-tech beef processing plant on its Te Aroha site, subject to final board and other approvals including union agreement. At the same time, the company is considering the purchase of Wallace Corporation’s meat processing plant at Waitoa.
Wallace Corporation will retain its rendering, tanning, farming and [...]

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Posted in Food Investment and processing NZ, Food and Drinks, Foreign Direct Investment/FDI New Zealand, General | Read More

New Zealand Commerce Commission preliminary approval creates a monopoly in New Zealand wool industry

Comments Off | 04-21-2011

The New Zealand Commerce Commission may just be content with the creation of a monopoly in the wool industry, if its preliminary study of the Cavalier Wool Holdings’ plan to acquire 100 per cent of New Zealand Wool Services International’s wool scouring business is anything to go by.
According to Stuff New Zealand, the Commerce Commission [...]

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Posted in Agriculture New Zealand, Foreign Direct Investment/FDI New Zealand, General | Read More

Charter Hall Retail REIT completes sale of majority of New Zealand non-core assets

Comments Off | 04-20-2011

Charter Hall Retail REIT announced it has completed the sale of the majority of its investment in the non-core New Zealand portfolio, with the sale of 15 properties for a total consideration of NZ$85.3 million, in line with its carrying book value.
The REIT’s 50% interest in the 15 freestanding supermarkets was acquired by its New [...]

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Posted in Foreign Direct Investment/FDI New Zealand, General, Real Estate New Zealand | Read More