| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 10 May 2013 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 19.3685 hectares of land located at the corner of Tramway and Boultons Roads, Darfield. |
| Consideration | $545,000 |
| Applicant | Tegel Foods Limited Singapore Public (87.3%) Hong Kong Public (11.3%) New Zealand Public and Various Entities, New Zealand (1.4%) |
| Vendor | Robert John McGowan and Ann Margaret Shaw New Zealand (100%) |
| Background | The Applicant is acquiring the land to replace its current processing facility land (located at Shands Road) which is being acquired by the Crown for a realignment of the Christchurch Southern Motorway. 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 | David Gilbert/Amanda Spratt Minter Ellison Rudd Watts PO Box 3798 AUCKLAND 1140 |