Applicant
Gold International Holdings Limited
Case number(s)
201410004
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date21 July 2014
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 12.9499 hectares of land at 3396 Mountain Road, Stratford.
Consideration$2,000,000
ApplicantGold International Holdings Limited
Guoqiang Zhang, China, People's Republic of (100%)
VendorTaranaki Abattoir Company (1992) Limited
New Zealand (100%)
Background

The Applicant seeks to acquire the land and the abattoir business located on the land. The Applicant has already provided capital investment which will likely ensure the on-going viability of the abattoir 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) – Jobs
17(2)(a)(iii) – Increased export receipts
17(2)(a)(vi) – Increased processing of primary products
17(2)(b) – Indigenous vegetation/fauna
17(2)(e) – Walking access
17(2)(f) – Offer to sell riverbed to the Crown

Overseas Investment Regulations 2005
28(e) – Previous investments

More informationRoyal Reed
Prestige Lawyers
PO Box 305379
AUCKLAND 0757