| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 15 April 2014 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 309.1797 hectares of land at Block Access Road, Opotiki. |
| Consideration | $980,000 |
| Applicant | Matariki Forests United States Public (66.1206%) United Kingdom Public (13.832%) Luxembourg Public (7.2135%) Norway Public (3.108%) Swedish Public (2.576%) Belgium Public (2.345%) Various overseas persons (1.991%) Kuwait Public (1.2425%) Italian Public (0.805%) Netherlands Public, Netherlands (0.7665%) |
| Vendor | Pacific Trees Limited Diogo Fialho De Oliveira, New Zealand (100%) |
| Background | The Applicant is the third largest owner of forestry in New Zealand and owns the forestry blocks that border the land. The acquisition of the land will secure permanent formed access to those neighbouring forests increasing the efficiency and viability of the Applicant’s forestry operations. 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 | Craig Nelson Simpson Grierson Private Bag 92518 AUCKLAND 1141 |