| Decision | Consent granted Section 12(b) Overseas Investment Act 2005 |
|---|---|
| Decision date | 19 November 2013 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in a further 12.5% of the shares of Folium Vineyard Limited which owns or controls a freehold interest in 8.4262 hectares of land at 221 Brancott Rd, Marlborough. |
| Consideration | $450,000 |
| Applicant | Nakashimato Co., Limited Japan (100%) |
| Vendor | Shigehiko Sugiura Japan (100%) |
| Background | The Applicant is the majority shareholder of Folium Vineyard Limited and intends to purchase shares from a minority shareholder, which will increase the Applicant's shareholding from 75% to 87.5%. The Applicant intends to acquire the shares to continue its support of, and investment in the company, and the business activities it undertakes. 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 | Stephanie Ginders Hardy-Jones Clark PO Box 646 BLENHEIM |