Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
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Decision date | 21 March 2013 |
Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately:
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Consideration | $84,609,884 |
Applicant | China National Forest Products Trading Corporation & China National Forest Products Industry Corporation Chinese Government, China, People's Republic of (100%) |
Vendor | NZSF Timber Investments (No 3) Limited Guardians of New Zealand Superannuation Fund, New Zealand (100%) |
Background | The Applicant will own the land as a long term commercial forestry investment, managing the plantation forests in accordance with best international silvicultural practices. It is intended that the forests will be re-planted following harvest to maintain continuity of supply. 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 | Gerald Fitzgerald/Abby Tearle Kensington Swan PO Box 10246 WELLINGTON 6143 |