| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 12 November 2024 |
| Pathway | Sensitive land - Special forestry (one-off) |
| Investment | Acquisition of a freehold interest in approximately 554 hectares of land located at 594 Birch North Road, Tararua District (Land) |
| Consideration | Withheld under section 9(2)(b)(ii) of the Official Information Act 1982 |
| Applicants | Ingka Investments Forest Assets NZ Limited and Ingka Investments Management NZ Limited Netherlands 100% |
| Vendor | Tararua District Council New Zealand 100% |
| Background | The Applicants are two New Zealand incorporated companies who will acquire the land, and hold a forestry right over the Land, respectively. The Applicants are owned by Ingka Investments B.V., the investment arm of Ingka Group, which is the largest franchisee of IKEA stores internationally. The land includes approximately 334 hectares of first and second rotation commercial forest known as North Birch Forest. The remainder of the Land is mainly gaps, skids and native vegetation. The Applicant intends to continue the commercial rotational forestry operation on the land. Consent was granted as the Applicants met the investor test criterion and the special forestry test criteria. |
| More information | Pavanie Edirisuriya DLA Piper New Zealand |
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