Applicant
DAH Beteiligungs GmbH
Case number(s)
201020018
Decision date
Type
Decision
DecisionConsent Granted
Section 12(b) Overseas Investment Act 2005
Decision date22 December 2010
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in up to 100.0% of the units of Orauea Pastoral Limited Partnership which owns or controls a freehold interest in 366.2591 hectares of land at 286 Feldwick Road, RD2, Eastern Bush, Otautau, Southland.
Consideration$12,375,000
ApplicantDAH Beteiligungs GmbH
Daniel Wolfgang Hopp, Germany (100.0%)
VendorQuadrant Pastoral Limited
Greg Norman Collins, New Zealand (40.0%)
John Joseph Ellis and Valerie Jean Ellis, New Zealand (20.0%)
Juanita Priscilla Marshall, New Zealand (20.0%)
Paul David Marshall, New Zealand (20.0%)
Background

The Applicant believes New Zealand is an ideal environment for investing in agriculture, particularly dairy farms. The Applicant states that it is interested in a genuine return on its investments by adding value through additional capital expenditure, sound farming practices and good management.

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/Retention of jobs
17(2)(a)(iii) – Increased export receipts
17(2)(a)(iv) – Added market competition/productivity
17(2)(a)(v) – Additional investment for development purposes
17(2)(a)(vi) – Increased processing of primary products
17(2)(e) – Walking Access
17(2)(f) – Offer to sell riverbed to the Crown

More informationCharlie Brown
Rhodes & Co.
PO Box 13444
CHRISTCHURCH