| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 17 October 2014 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in approximately 308 hectares of land at Hunter, Pembers, Blind Creek and Rarangi Roads, Tuamarina Marlborough. |
| Consideration | $84,426,480 |
| Applicant | Constellation Brands New Zealand Limited Constellation Brands Inc, United States of America (100%) |
| Vendor | Awarua Farm Marlborough Limited and Philip John Woolley New Zealand (100%) |
| Background | The Applicant is acquiring a leasehold interest in the land and intends to convert it into a vineyard. The grapes produced from the land will be used in the production of Kim Crawford, Nobilo and Monkey Bay wines which are the Applicant's major export brands. 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 Overseas Investment Regulations 2005 |
| More information | Tara Wylie Simpson Grierson Private Bag 92518 AUCKLAND 1141 |