Applicant
Treasury Wine Estates (Matua) Limited
Case number(s)
201410046
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date24 October 2014
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in approximately 24 hectares of land located at Giffords Road, Blenheim.
Consideration$18,917,850 over the 30 year term of the lease
ApplicantTreasury Wine Estates (Matua) Limited
Australian Public (96.9%)
Various overseas persons (1.9%)
New Zealand Public (1.2%)
VendorMarlborough District Council
New Zealand (100%)
Background

The Applicant intends to plant a vineyard on the land. The vineyard will provided further security of grape supply for the Applicant and will support the growth of the Applicant's existing New zealand wine business.

The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors:

Overseas Investment Act 2005
17(2)(a)(i) – Creation of Jobs
17(2)(a)(iii) – Increased export receipts
17(2)(a)(iv) – Greater productivity and efficiencies
17(2)(a)(v) – Additional investment for development purposes
17(2)(a)(vi) – Increased processing of primary products

Overseas Investment Regulations 2005
28(e) – Previous investments
28(f) – Advance significant Government policy or strategy
28(g) – Enhance the viability of other investments
28(i) – Economic interests

More informationPip England
Chapman Tripp 
PO Box 2206
AUCKLAND 1140