Applicant
Forestry Fund 9 NZ Limited
Case number(s)
201320065
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date14 February 2014
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 478 hectares of land (Kohitere Forest) located at Denton Road and Gladstone Road, Levin.
Consideration$644,000
ApplicantForestry Fund 9 NZ Limited
Various overseas persons (70%)
United States Public (21%)
United Kingdom Public (9%)
VendorMatariki Forests
United States Public (64%)
Various overseas persons (36%)
Background

The Applicant will continue to operate the land as a commercial forestry operation.

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) – Retention of jobs
17(2)(a)(iv) – Greater productivity
17(2)(a)(vi) – Increased processing of primary products
17(2)(b) – Indigenous vegetation/fauna
17(2)(e) – Walking access

Overseas Investment Regulations 2005
28(a) – Consequential benefits
28(c) – Affect image, trade or international relations
28(d) – Owner to undertake other significant investment
28(e) – Previous investments
28(f) – Advance significant Government policy or strategy
28(g) – Enhance the viability of other investments
28(i) – Economic interests

More informationMartin Thomson/Pavanie Edirisuriya
DLA Phillips Fox
PO Box 160
AUCKLAND