| Decision | Consent granted Section 12(b) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | The Minister for Land Information and the Associate Minister of Finance |
| Decision Date | 19 December 2019 |
| Pathway(s) | Sensitive land – substantial and identifiable benefit to New Zealand |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a 35% interest in Bauhinia Farm Limited that owns 119.425 hectares of non-urban land at 1,544 Kakaramea Road, Temple View Hamilton, and a leasehold interest over the same land for up to 12 years. |
| Consideration | $5,443,284 |
| Applicant | Inner Mongolia Rider Horse Industry (NZ) Limited China Public (36.2868%) Lin Lang, China, People's Republic of (32.7%) Hong Kong Public (10.612%) Jiangsu Yuedataihe Venture Fund, China, People's Republic of (7.7%) Hangzhou CDF Fujin Venture Fund, China, People's Republic of (6.6%) Various overseas persons (4.6409%) United States Public (1.4603%) |
| Vendor | CHG Investments Limited Brent Stephen Gillovic, New Zealand (33.9976%) The Valan Cohen Foundation, New Zealand (29.3%) Michael Raymond Hibbert, Australia (24.999%) Nigel Harrison, New Zealand (5.77%) Brian Robert Everett, New Zealand (5.77%) Donald Hamish McIlraith, New Zealand (0.1624%) Various New Zealand Individuals, New Zealand (0.001%) |
| Background | The Applicant is a majority Chinese owned horse breeding, exporting and racing business operating in New Zealand and China. It is part of the Rider Horse Group. It has been operating in New Zealand since 2012. The Applicant is acquiring Highview Stud, a 119-hectare horse stud at Temple View, Hamilton. It intends to use Highview Stud to breed, keep and train horses in New Zealand, and to expand its business. To do this, it plans to upgrade the stud’s facilities. This is expected to create new full-time jobs, exports, increase the efficiency and productivity of Highview Stud, and bring additional investment into New Zealand. It is also expected to advance significant Government policy regarding the New Zealand thoroughbred racing industry, particularly regarding the sale of thoroughbred horses in New Zealand. |
| More information | Glenn Shewan Bell Gully PO Box 4199 Auckland 1140 |