Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
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Decision date | 20 March 2013 |
Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 49.7763 hectares of land located at Bird Road, Pukengahu, being the site of the Waihapa Production Station. |
Consideration | Part of a wider transaction the consideration for which is approximately CDN$42 million plus royalty arrangements. |
Applicant | Waihapa Production Services Limited Canadian Public (96.35%) United States Public (2.65%) New Zealand Public (1.0%) |
Vendor | Origin Energy Resources NZ (TAWN) Limited Australian Public (98.6%) New Zealand Public (1.1%) Various overseas persons (0.3%) |
Background | The Applicant is acquiring the land in order to own, operate and further develop the Waihapa Energy Production Station and associated energy field assets. 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 | Robert Bycroft/Campbell Stewart Tompkins Wake PO Box 258 HAMILTON |