| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 19 July 2021 |
| Pathway(s) | Forestry (Special forestry - One-off purchase) |
| Investment | An overseas investment in sensitive land, being the Applicant’s acquisition of a freehold interest in approximately 46.7070 hectares of land at 1155 Donnithornes Road, Waihaorunga, Waimate District |
| Asset Value | Withheld under s9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Port Blakely Limited United States of America (100%) |
| Vendors | Rimurakau Forests Limited New Zealand (80%) United Kingdom (20%) |
| Background | The Applicant has applied for consent under the special test relating to forestry activities set out in section 16A(4) of the Act. The Applicant is a US owned forestry management company. It currently owns forestry land adjoining the land being acquired. The land being acquired was previously used for forestry, which was harvested in 2019. The Applicant intends to re-establish approximately 36 hectares of plantation forest on the land. The Applicant intends to hold the land as a long-term investment and is committed to replanting the land with a further commercial tree crop after each harvest. The land does not include any residential land and will not be used for any residential purposes. |
| More information | Catherine Reid Barrister catherine@catherinereid.co.nz |