| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 18 November 2024 |
| Pathway | Sensitive land - Special forestry test (one-off) |
| Investment | Acquisition of approximately 258 hectares (subject to survey) of land located at 425 Wairere Road, Maungaturoto |
| 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 7% Various 13% |
| Vendor | Owen Randal Clements, Northland Trustee (Clements) Limited as Trustees of the Clements Family Trust New Zealand 100% |
| Background | The Applicant is a New Zealand incorporated company and has been a repeat forestry investor since 2020. The Applicant is ultimately wholly owned by Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft a German multinational insurance company listed on all German Stock Exchanges. The land to be acquired is approximately 258 hectares currently used for forestry purposes. The total productive area of the land is approximately 190 hectares. The forest is 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 PO Box 8 Auckland 1140 |
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