| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 18 October 2024 |
| Pathway | Sensitive land – Special forestry test (one off) |
| Investment | Acquisition of Aranga Forest (approximately 138 ha), Hoyle Forest (approximately 94 ha), Lindquist Forest (approximately 139 ha), Simpkin Forest (approximately 152 ha), Porter Forest (approximately 157 ha), Paparoa Forest (approximately 50 ha. All located in Northland for forestry activities |
| Consideration | Withheld under section 9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Ponga Silva Limited Germany 49% United States of America 20% United Kingdom 11% France 6% Various 14% |
| Vendors | Ohae 35 Limited Diamond Farm 1 Limited Diamond Farm 6 Limited Diamond Farm Trading Limited |
| Background | The Applicant is a New Zealand incorporated company and has been a repeat forestry investor since 2020, with 13 acquisitions to date. The Applicant is ultimately wholly owned by Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft, (Munich Re), a German multinational insurance company listed on all German Stock Exchanges. The land to be acquired is approximately 730 hectares currently used for forestry purposes. The total productive area of the land is approximately 409 hectares. All six 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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