| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 27 March 2019 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 260 hectares of land located at Kakariki Farm Road, Kotemaori (Peka Mai Forest). |
| Consideration | $1,100,000 |
| Applicant | Pan Pac Forest Products Limited Japanese Public (74.6%) United States Public (11.68%) United Kingdom Public (6.35%) Various overseas persons (6.1%) Belgium Public (1.27%) |
| Vendor | Peka Mai Farm Limited New Zealand (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. Peka Mai Forest is a mature forest comprised mostly of pinus radiata. The Applicant intends to harvest the existing crop and replant mostly in pinus radiata. The Applicant is purchasing Peka Mai Forest primarily to secure timber supply for its domestic lumber and pulp business. The Applicant intends to hold the land indefinitely. |
| More information | Paul G Foley Minter Ellison Rudd Watts PO Box 2793 WELLINGTON |