| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 6 May 2019 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 2,996 hectares of land known as ‘the Clutha Forests’ in Otago (the Land), comprising the following eight forest blocks:
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| Consideration | Withheld under s9(2)(b)(ii) of the Official Information Act |
| Applicant | Port Blakely Limited Eddy Family, United States of America (100.0%) |
| Vendor | Forestry Fund 9 NZ Limited United States of America (59.79%) United Kingdom (27.24%) Cayman Islands (8.65%) Canada (3.93%) British Virgin Islands (0.39%) |
| Background | The Applicant has applied for consent under the special test relating to forestry activities set out in section 16(4) of the Act. The Land to be acquired is Clutha Forests, comprised of eight established forest blocks in Otago, between Lawrence and Dunedin. The Clutha Forests are planted mostly with pinus radiata, of predominantly mid-rotation age class. After harvest the Applicant intends to replant and maintain a similar replacement crop. The Applicant is purchasing the Clutha Forests to provide continuity for its workforce, maintain critical mass for supply chain management, and strengthen partnerships with local processors. The Consent includes a condition requiring the Applicant to protect an area of ecological value in the Scroggs Hill Forest by registering a covenant against the records of title. |
| More information | Hugh Lindo Simpson Grierson PO Box 874 Christchurch 8140 |