Applicant
Casama Group (NZ) Limited
Case number(s)
201320053
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date24 August 2014
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a further 76% freehold interest in approximately 45.1179 hectares of land at 1397 Waihopai Valley Road, Marlborough.
Consideration$3,842,663
ApplicantCasama Group (NZ) Limited
John Fulvio Valmorbida and family, Australia (100.0%)
VendorLadybug Vineyards Limited
Anthony Louis Moore, New Zealand (100.0%)
Background

The Applicant already has a 24% ownership interest in the Land, which is operated as a vineyard. The Investment consolidates the Applicant’s ownership of the Land. 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/productivity
17(2)(a)(v) – Additional investment for development purposes
17(2)(a)(vi) – Increased processing of primary products

Overseas Investment Regulations 2005
28(g) – Enhance the viability of other investments
28(i) – Economic interests

More informationTessa Baker
Chapman Tripp
PO Box 2206
AUCKLAND 1140