Overseas investment decision for case 201410012 - Southern Pastures Limited Partnership | Toitū Te Whenua

Applicant: Southern Pastures Limited Partnership
Case number(s): 201410012
Decision date: 23 Jul 2014
Type: Decision

Decision	Consent granted Section 12(a) Overseas Investment Act 2005
Decision date	23 July 2014
Investment	An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 455.7721 hectares of land at Tirohanga Road, Taupo.
Consideration	$2,000,000
Applicant	Southern Pastures Limited Partnership Swedish Public (58.2%) Luxembourg Public (23.5%) German Public (15.7%) New Zealand Public (2.6%)
Vendor	Te Waihou Plantations Limited United States Public (34.8%) Saudia Arabian Public (22.1%) Danish Public (12.4%) Liechtenstein Public (12.4%) German Public (5.7%) Swedish Public (5.3%) New Zealand Public (4.4%) Canada Public (2.6%) Australian Public (0.2%) Singapore Public (0.1%)
Background	The Applicant intends to convert the land which is currently afforested to dairy land to support the Applicant’s existing dairy farms in the area. 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)(iv) – Greater efficiency and productivity 17(2)(a)(v) – Additional investment for development purposes 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(a) – Consequential benefits 28(e) – Previous investments 28(j) – Oversight and participation by New Zealanders
More information	Chris Bougen Chapman Tripp PO Box 993 WELLINGTON 6140

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