| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 22 December 2021 |
| Pathway(s) | Benefit to New Zealand (Benefit to New Zealand - S&I) |
| Investment | A leasehold interest in approximately 18 hectares of land located at 376 Napier Road and 155 Thompson Road, Havelock North, Hawkes Bay |
| Consideration | Withheld under s9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | T&G Global Limited Germany (73.99%) China, People's Republic of (19.99%) New Zealand (5.93%) Various (0.09%) |
| Lessor | Robin George Streeter and Denise Lynne Streeter New Zealand (100%) |
| Background | The Applicant is a New Zealand-incorporated grower, distributer, marketer, and exporter of a variety of fresh produce including apples. The Applicant intends to redevelop the land which is currently planted in older varieties of apples and will plant and grow high value Envy apples using the 2D planting system. We are satisfied the redevelopment of the land is likely to result in substantial and identifiable benefit to New Zealand, through increased jobs, export receipts, capital expenditure, royalties paid, and increased productivity and efficiency on the land. The Applicant has also demonstrated that it has provided benefit to New Zealand through previous investments. |
| More information | Joe Windmeyer Russell McVeagh (Auckland) PO Box 8 Auckland 1140 |