The data do not necessarily reflect a change in foreign ownership as, in some cases, both the target and the purchaser are foreign persons. The proposed investment of an approved proposal is the amount advised by the applicants or the best estimate based on the available information. It represents an estimate of the expected proposed investment in the 12 months from the approval unless the approval is granted for a longer period (if the proposal is in fact implemented). Where an approved acquisition is a part of an offshore acquisition, the proposed investment figure is calculated based on the share attributable to the approved acquisition. Where amounts are in a foreign currency, this is converted to Australian dollars based on the exchange rate at the time of the decision. There are some approved proposals for which proposed investment is treated as nil. Examples of this include corporate reorganisations, financing arrangements and where foreign government investor lenders take security interests, but do not have approval to retain ownership after any enforcement of such security interests. The statistics may include some transactions that do not actually proceed. They include: Proposals that are approved in a given year but which are not actually implemented in that year or at all; Approvals for multiple potential acquirers of the same target (including for potential consortium participants that are yet to determine their final maximum percentage interest); and Approvals for shares or units where only a portion of the intended shares or units may be acquired. Acquisitions of diversified company groups are classified into a single industry sector according to the major activity of the group, such as in a diversified mining company with interests in various minerals. Acquisitions of real estate to be used for purposes incidental to the main business activity of the purchaser are classified according to that activity.
The data do not necessarily reflect a change in foreign ownership as, in some cases, both the target and the purchaser are foreign persons. The proposed investment of an approved proposal is the amount advised by the applicants or the best estimate based on the available information. It represents an estimate of the expected proposed investment in the 12 months from the approval unless the approval is granted for a longer period (if the proposal is in fact implemented). Where an approved acquisition is a part of an offshore acquisition, the proposed investment figure is calculated based on the share attributable to the approved acquisition. Where amounts are in a foreign currency, this is converted to Australian dollars based on the exchange rate at the time of the decision. There are some approved proposals for which proposed investment is treated as nil. Examples of this include corporate reorganisations, financing arrangements and where foreign government investor lenders take security interests, but do not have approval to retain ownership after any enforcement of such security interests. The statistics may include some transactions that do not actually proceed. They include: Proposals that are approved in a given year but which are not actually implemented in that year or at all; Approvals for multiple potential acquirers of the same target (including for potential consortium participants that are yet to determine their final maximum percentage interest); and Approvals for shares or units where only a portion of the intended shares or units may be acquired. Acquisitions of diversified company groups are classified into a single industry sector according to the major activity of the group, such as in a diversified mining company with interests in various minerals. Acquisitions of real estate to be used for purposes incidental to the main business activity of the purchaser are classified according to that activity.
FIRB-AR-2014-15_Appendix_A.docx