| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 1 May 2024 |
| Pathway | Special forestry (One-off purchase) |
| Investment | Acquisition of approximately 4,414ha of land (Waimea, Malita and Starveall forests) in the Tasman District. |
| Consideration | $14,000,000 |
| Applicant | Tasman Pine Forests Limited Japan 76% Various 24% |
| Vendor | Koata Limited New Zealand 100% |
| Background | The Applicant is one of the largest forest owners and managers in New Zealand and already has a Crown Forestry Licence over the Land. It is now acquiring the freehold interests. It operates the land as a productive plantation forestry estate consisting of approximately 3,092ha of mixed age Pinus radiata trees. This acquisition is part of a forestry land swap between the Applicant and Ngāti Koata, a local iwi. The Applicant plans to continue using the land for production forestry. Consent was granted as the Applicant has met the investor test criterion and the special forestry test criteria. |
| More information | Catherine Reid Catherine Reid Barrister |
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