| Decision | Consent granted Section 12(b) Overseas Investment Act 2005 |
|---|---|
| Decision date | 9 August 2011 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in up to 100.0% of the units of Tahawai Pastoral Limited Partnership which owns or controls a freehold interest in 192.1253 hectares of land at 145 Orawia-Pukemaori Road, Orawia, Southland. |
| Consideration | $5,700,000 |
| Applicant | NMP Farm Investment GmbH and PP1 Agrar Ozeanien GmbH Aquila AgrarINVEST III GmbH & Co. KG and PP1 Agrar Ozeanien Investitions GmbH & Co. KG, Germany (100.0%) |
| Vendor | Pukeawa Farms Limited New Zealand (100%) |
| Background | The Applicant intends to develop and lift production from the property which will continue to be operated as a dairy farm. Proposed developments include the construction of a new 50 bale rotary dairy shed with a meal feeding system, establishment of a new effluent pond with modern technology, provision for a tanker track, improvement of drainage in some of the wetter areas and the fencing off of various waterways. 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 | Nicholas Russell Chen Palmer P O Box 2160 WELLINGTON 6015 |