| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 16 February 2011 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of:
|
| Consideration | $3,000,000 |
| Applicant | Pinot Investments LP & TerraVin Holdings Limited TerraVin Wines Limited, New Zealand (45.0%) Indian Public (17.04%) Errol Desmond Clark, New Zealand (10.0%) Nick Watkins, United Kingdom (except Isle of Man and the Channel Islands) (7.5%) Horton Corporation Limited, New Zealand (7.5%) United Kingdom Public (4.65%) New Zealand Public (4.23%) Swedish Public (3.12%) Taiwanese Public (0.84%) Various overseas persons (0.12%) |
| Vendor | Cal Vin Limited New Zealand (100%) Pinot Investments LP Indian Public (56.8%) United Kingdom Public (15.5%) New Zealand Public (14.1%) Swedish Public (10.4%) Taiwanese Public (2.8%) Various overseas persons (0.4%) |
| Background | Pinot LP intends to acquire a freehold estate in the Land, and to immediately lease that to TerraVin on a long term basis. Following these transactions, TerraVin will be a wine producer with a focus on high end Pinot Noir and the development of a substantial export business. 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 |
| More information | Greg B Horton Harmos Horton Lusk PO Box 28 Shortland Street AUCKLAND |