| Decision | Consent approved Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 29 March 2011 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 8.4262 hectares of land at 221 Brancott Rd, Marlborough. |
| Consideration | $2,245,000 |
| Applicant | Folium Vineyard Limited Nakashimato Co. Limited, Japan (75.0%) Shigehiko Sugiura, Japan (12.5%) Vine Laboratory Limited, Japan (12.5%) |
| Vendor | Fromm and Partner Limited Wallace Diack Trustees Ltd and George Walliser, New Zealand (64.2202%) Paul Francois Lenzinger, Switzerland (18.0377%) William Hoare, New Zealand (11.8281%) Sonja Oswald, Switzerland (5.914%) |
| Background | Japan is the eighth largest market in the world for the export of New Zealand wine. In Japan wine has become one of the most popular alcoholic beverages. The Applicant believes that New Zealand wine can be promoted more successfully in Japan. The Applicant intends to ensure that all wine on the vineyard is grown organically which will be a prominent marketing feature in Japan. 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 | Stephanie Ginders Hardy-Jones Clark PO Box 646 BLENHEIM |