| Decision number | 200710018 |
|---|---|
| Application number | 200620108 |
| Date | 12 March 2007 |
| Offeror/applicant | Blakely Pacific Limited |
| Ultimate applicant beneficial ownership | 100 percent - United States of America, Eddy Family |
| Beneficial overseas ownership | |
| - Asset current | 100 percent |
| - Asset proposed | 100 percent |
| - Share current | N/A |
| - Share proposed | N/A |
| Offeree(s)/seller(s) | The New Zealand Redwood Company 100 percent - United States of America, Soper and Wheeler Families |
| Business activities | Agriculture - Scrub/Native Bush Forestry |
| Details of land involved | 2,081.5006 hectares of freehold situated at Saddle Peak, Waihi Gorge Road, Geraldine, Canterbury. being CT CB16F/652 (Canterbury Registry). |
| Regions involved | Canterbury |
| Total consideration | CONFIDENTIAL |
| Consent sought | To acquire an interest in land which, either alone or together with any associated land of that type, is or includes non-urban land and exceeds 5 hectares in area. |
| Rationale | The application has been approved as it met the criteria. The Overseas Investment Office is satisfied that the individuals with control of the Applicant collectively have business experience and acumen relevant to the overseas investment, and that the Applicant has demonstrated financial commitment towards the overseas investment. The Overseas Investment Office is further satisfied that each individual that exercises control over the Applicant is of good character and is not an individual of the kind referred to in section 7(1) of the Immigration Act 1987. Blakely Pacific Limited (Blakely) proposes to acquire the land known as Saddle Peak Station situated near Geraldine. The land contains a net stocked area of approximately 900 hectares established predominantly in douglas fir forestry by the vendor during 2000 to 2004. The land is located nearby to Geraldine Forest an existing forestry investment which Blakely received consent to acquire in 1999. The proposal is likely to result in the following benefits:
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| Contact | Craig Nelson Simpson Grierson Private Bag 92518 AUCKLAND |