Summer services update
| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 24 June 2024 |
| Pathway | Sensitive land - Special forestry test (one-off) |
| Investment | Acquisition of Sommerville Forest (120 hectares), Lusk Forest (69 hectares), Avoca Forest (74 hectares) and Maromaku Forest (79 hectares) located in Northland for forestry activities |
| Consideration | $7,600,000 |
| Applicant | Ponga Silva Limited Germany 49% United States of America 20% United Kingdom 11% France 6% Various 14% |
| Vendors | Tangiteroria Ngahere Limited Hereford and Romney Limited Bark and Wood Limited |
| Background | The Applicant is a New Zealand incorporated company that is a repeat forestry investor having been granted consent in several previous applications under the special forestry test. The land to be acquired is approximately 342 hectares currently used for forestry purposes. The total productive area of the land is approximately 275 hectares. All four forests are planted almost exclusively with pinus radiata. The Applicant plans to continue using the land for forestry. Consent was granted as the Applicant has met the investor test criterion and the special forestry test criteria. |
| More information | Sarah Blackmore Russell McVeagh (Auckland) PO Box 8 AUCKLAND 1140 |
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