Decision | Consent granted Section 57B of the Fisheries Act 1996 |
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Decision date | 23 October 2013 |
Investment | New Zealand Longline Limited (“NZLL”)’s acquisition of the following interests in fishing quota under section 57B of the Fisheries Act 1996:
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Consideration | $8,150,000 |
Applicant | New Zealand Longline Limited Talley's Group Limited, New Zealand (50.0%) Te Ohu Kai Moana (TOKM), New Zealand (25.0%) Nippon Suisan Kaisha Limited ("Nissui"), Japan (25.0%) |
Vendor | Various fishing quota holders |
Background | NZLL is a joint venture owned 50% by Sealord Group Limited and 50% by Talley’s Group Limited. NZLL wishes to acquire various quota shares and ACE in order to continue its existing fishing operations. In addition, NZLL intends to establish the viability and sustainability of a new crab fishery in New Zealand. The overseas investment transaction has satisfied the criteria in section 57G of the Fisheries Act 1996. The 'national interest' criterion was satisfied by particular reference to the following factors: Fisheries Act 1996 |
More information | Chris Bougen Chapman Tripp PO Box 993 WELLINGTON 6140 |