| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 6 September 2019 |
| Pathway(s) | Sensitive land – special forestry test |
| Investment | An overseas investment in sensitive land, being the Applicant’s acquisition of a freehold interest in approximately 1,663 hectares of land located at:
|
| Consideration | $46,000,000 |
| Applicant | Matariki Forests United States (75.41%) United Kingdom (9.08%) Luxembourg (6.17%) Germany (2.07%) Switzerland (1.68%) Various (5.59%) |
| Vendor | QIC Strategy Timber No. 1 Limited Australia (100%) |
| 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 land to be acquired is already almost all (1,377 hectares) planted in mature commercial forestry. The remainder of the Land is unplantable due to indigenous vegetation, streams and riparian strips, reserves and infrastructure (roads and tracks). The Applicant is purchasing the land to secure on-going timber supply. The Applicant intends to harvest the existing crop and replant and maintain a replacement crop. The Applicant will continue to maintain public access over the land and will take steps to protect the areas of native scrubland, native forested areas and waterways within each forest. |
| More information | Michael Pollard Simpson Grierson Private Bag 92518 AUCKLAND 1141 |