Applicant
Latifundium Oban Forest Limited
Case number(s)
201320066
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date25 February 2014
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 507 hectares of land located at Blairlogie - Langdale Road, Masterton (known as Oban Forest).
Asset value$1,025,000
ApplicantLatifundium Oban Forest Limited
Liechtenstein (64.2%)Germany (35.8%)
VendorOban North Forestry Partnership Custodial Company Limited
New Zealand (100%)
Background

The Applicant intends to grow the existing forest to maturity, harvest and then replant Oban Forest as an intergenerational investment.

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) – Creation of Jobs
17(2)(a)(iii) – Increased export receipts
17(2)(a)(iv) – Greater 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 gift riverbed to the Crown

Overseas Investment Regulations 2005
28(c) – Affect image, trade or international relations
28(f) – Advance significant Government policy or strategy
28(i) – Economic interests

More informationGordon Wong
Duncan Cotterill
PO Box 10-376
WELLINGTON