| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 20 March 2013 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 1,382.2106 hectares of land at Puketoi Runs Road, Maniototo, Otago. |
| Consideration | $12,766,944 |
| Applicant | Dairy Farms Partnership President and Fellows of Harvard College, United States of America (100.0%) |
| Vendor | Dogterom O’Callaghan Limited Nanne Otto Dogterom, New Zealand (67.0%) Michael Desmond O'Callaghan, New Zealand (33.0%) |
| Background | The Applicant owns two nearby dairy farms and intends to purchase the land and to operate it as a dairy farm and a dairy support farm in conjunction with those two other farms. The Applicant also intends to upgrade 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 Overseas Investment Regulations 2005 |
| More information | Martin Thomson Pavanie Edirisuriya |