Overseas investment decision for case 201220047 - Matauri Bay Partnership | Toitū Te Whenua

Decision	Consent granted Section 12(a) Overseas Investment Act 2005
Decision date	22 April 2013
Investment	An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 296.2200 hectares of land at 1205 Matauri Bay Road, Matauri, Northland.
Consideration	$2,150,000
Applicant	Matauri Bay Partnership Sylvain Laine and family, French Polynesia (50.0%) Roger Lossing and family, French Polynesia (50.0%)
Vendor	Max Beazley & Sons Limited Arthur Walton Beazley, New Zealand (41.78%) Larry Rayner Beazley, New Zealand (41.45%) Maxwell John Beazley, New Zealand (16.77%)
Background	The land is a sheep and beef farm. The Applicant will restock the farm and invest considerable sums in developing the farm and protecting areas of indigenous vegetation on the land. 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)(iii) – Increased export receipts 17(2)(a)(iv) – Greater efficiency/productivity 17(2)(a)(v) – Additional investment for development purposes 17(2)(a)(vi) – Increased processing of primary products 17(2)(b) – Indigenous vegetation/fauna 17(2)(c) – Trout, salmon, wildlife and game 17(2)(e) – Walking access
More information	Steve Rutherford Rogers & Rutherford PO Box 2330 Auckland 1140