| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 7 October 2010 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 14.6535 hectares of land at Arapuni Road, Arapuni, South Waikato. |
| Consideration | $860,625 |
| Applicant | Arapuni Milk Limited Danish Public (58.321%) New Zealand Public (26.68%) Dutch Public (15.01%) |
| Vendor | South Waikato Processing Facility Limited New Zealand (100%) |
| Background | The Applicant proposes to acquire the land and construct a milk powder processing plant on the periphery of Arapuni, a high milk growth area situated in the South Waikato District. The Applicant has identified significant key elements driving the emergence of independent dairy companies in New Zealand that in its opinion provide an opportunity to achieve a return on investment which fits with its skills and risk profile. 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 Overseas Investment Regulations 2005 |
| More information | Richard Stapel 401D Anglesea Street HAMILTON |