| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Overseas Investment Office |
| Decision date | 25 September 2018 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in 18.9668 hectares of land at 207 Thompson Road, Havelock North (“Land”). |
| Consideration | $1,285,143 |
| Applicant | T&G Global Limited BayWa Aktiengesellschaft (73.99%) China Public (11.6302%) Legend Holdings Group, China, People's Republic of (8.3598%) New Zealand Public (5.09%) New Zealand Public and Various Entities, New Zealand (0.84%) Various overseas persons (0.09%) |
| Vendor | Whare Roto Orchard Limited New Zealand (100%) |
| Background | The Applicant, an established apple grower in New Zealand, intends to acquire the leasehold land in Havelock North. The Land is currently used for cropping and the Applicant intends to develop the Land into an apple orchard to plant and grow apples in the Jazz, Envy and Lady in Red varieties. The benefits that are likely to result from the Investment include job creation and an increase of export receipts. These benefits relate to factors of high relative importance under the current Ministerial Directive Letter. The investment will also increase productivity on the Land and additional royalties for Plant and Food Research (a Crown Research Institute). We are satisfied that the benefits from the investment are substantial and identifiable. |
| More information | Joe Windmeyer Russell McVeagh PO Box 8 AUCKLAND |