| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 11 March 2014 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in approximately 0.8 hectares of land at Wiri. |
| Consideration | Annual rent of $374,847 plus GST p.a. |
| Applicant | Z Energy Limited New Zealand Public (36.656%) Other shareholders in Z Energy Limited, Various (22.84%) Guardians of New Zealand Superannuation (20.0%) Australian Public (15.72%) Various overseas persons (2.418%) Utilico Limited, United Kingdom (2.366%) |
| Vendor | P.F.I. Property Limited New Zealand Public (98.0%) Various overseas persons (1.0%) Australian Public (1.0%) |
| Background | Z has established a dedicated team to explore renewable transport energy solutions. One of the solutions being explored is the Z Biodiesel Project and the land has been identified as the preferred location. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'benefit to New Zealand' criterion was satisfied by particular reference to the following factors: Overseas Investment Regulations 2005 |
| More information | Miles Dean Minter Ellison Rudd Watts PO Box 2793 WELLINGTON |