Overseas investment decision for case 201210099 - Tassilo Metternich-Sandor | Toitū Te Whenua

Decision	Consent granted Section 12(a) Overseas Investment Act 2005
Decision date	18 September 2012
Investment	An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 1,148.3458 hectares of land located at 1928 SH5, Te Pohue, Napier.
Consideration	$3,400,000
Applicant	Tassilo Metternich-Sandor Austria (100%)
Vendor	Roger Dickie Eland Limited New Zealand (100%)
Background	The Applicant intends to acquire the property to develop a sustainable plantation forest for the sale of timber products and for carbon sequestration. 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)(i) – Creation of jobs 17(2)(a)(iii) – Increased export receipts 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)(f) – Offer to gift riverbed to the Crown Overseas Investment Regulations 2005 28(a) – Consequential benefits 28(f) – Advance significant government policy or strategy 28(i) – Economic Interests
More information	Gordon Wong Duncan Cotterill PO Box 10-376 WELLINGTON 6143