| Decision | Consent granted Section 12(b)(ii) Overseas Investment Act 2005 Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 03 September 2021 |
| Pathway(s) | Forestry (special forestry test - one-off purchase) and significant business assets |
| Investment | An overseas investment in sensitive land, being the acquisition by the Applicant of up to 100% of the limited partnership interests of Kauri Forestry LP (which owns or controls approximately 8,600 hectares of land used mostly for commercial forestry purposes); An overseas investment in significant business assets, as the above will result in the assets of Kauri Forestry LP becoming significant business assets for the first time (as their value will likely exceed $100 million for the first time); An overseas investment in sensitive land, being an internal rearrangement by the current underlying owners of the Applicant. |
| Consideration | Withheld under s9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | A Limited Partner in Kauri Forestry LP Switzerland (100.00%) |
| Vendor | Kauri Forestry LP Switzerland (93%) Germany (7%) |
| Background | The Applicant currently holds a majority limited partnership interest in Kauri Forestry LP, and is seeking consent to acquire up to 100%. In addition, the Applicant is seeking consent for an internal ownership rearrangement between the underlying owners of the Applicant. Kauri Forestry LP is associated with Craigmore Sustainables Group. Kauri Forestry LP is a New Zealand limited partnership which has been granted six previous one-off consents (along with a standing consent) under the Act (special forestry test) to acquire sensitive land for forestry purposes. All of this land is subject to prior consent conditions. The direct ownership, control and use of this sensitive land will not change as a result of this investment. |
| More information | Christina Lefever Lefever Law PO Box 33064 Christchurch christina@lefeverlaw.co.nz |