| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 29 March 2021 |
| Pathway | Sensitive land- substantial and identifiable benefit to New Zealand |
| Investment | An overseas investment in sensitive land, being the Applicant’s acquisition of a 25-year leasehold interest in approximately 11 hectares of land at 70 Franklin Rd, Pakowhai, Hawkes Bay. |
| Consideration | Withheld under s9(2)(b)(ii) of the Official Information Act |
| Applicant | T&G Global Limited Germany (74.01%) People's Republic of China (20.00%) New Zealand (5.94%) Various overseas persons (0.05%) |
| Vendor | Peter Anthony Scott and Karen Marrianne Scott 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 for its 100% subsidiary, ENZAFruit New Zealand International Limited to acquire a leasehold interest in land at 70 Franklin Rd, Hawkes Bay. The Applicant intends to redevelop the land which is currently planted in older varieties of apples and areas of bare land 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 |