Applicant
CO.FI.BA. SRL
Case number(s)
201310071
Decision date
Type
Decision
DecisionConsent Granted
Section 12(a) Overseas Investment Act 2005
Decision date25 October 2013
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 413.1839 hectares of land at 114 Griggs Road, RD 11, Dorie, Rakaia.
Consideration$25,100,000
ApplicantCO.FI.BA. SRL
Guido Barilla, Italy (28.0%)
Luca Barilla, Italy (28.0%)
Paolo Barilla, Italy (27.0%)
Emanuela Barilla, Italy (17.0%)
VendorBrook Farms Limited
Willy Leferink, New Zealand (50.0%)
Albertien Jeanet Leferink, New Zealand (50.0%)
Background

The Applicant intends to make additional capital investment in the dairy farm located on the property and to develop significant indigenous biodiversity on the farm.

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) – Jobs
17(2)(a)(v) – Additional investment for development purposes

Overseas Investment Regulations 2005
28(a) – Consequential benefits
28(d) – Owner to undertake other significant investment
28(f) – Advance significant government policy or strategy

More informationTessa Kennings
Chapman Tripp
PO Box 2206
AUCKLAND 1140