Overseas investment decision for case 201020012 - Aquila AgrarINVEST Investitions GmbH, D/S Neuseeland Milchfarm Investitions GmbH and Alceda Star S.A.

The land, known as Woodd's Farm, is currently used as a dry stock farm used for dairy support. The Applicant also proposes to acquire (through its unit holding in Browns Pastoral Limited Partnership) an indirect interest in a 168.4041ha property which adjoins Woodd’s Farm. This property, known as Brown’s Farm, is the subject of a separate application for consent (Case 201010048). It is intended that Woodd’s Farm and Brown’s Farm will be operated as one expanded dairy farm.

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)(c) – Trout, salmon, wildlife and game
17(2)(e) – Walking Access
17(2)(f) – Offer to sell riverbed to the Crown

Overseas Investment Regulations 2005
28(a) – Consequential Benefits