| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 16 March 2010 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of:
|
| Consideration | $11,728,125 |
| Applicant | AgrarINVEST Lux S.A. German Public, Germany (100.0%) |
| Vendor | 46 South Investments Limited Louis Stephen Kuriger, New Zealand (20.5882%) Barbara Joan Kuriger, New Zealand (20.5882%) Donavan Stephen Smith, New Zealand (17.6471%) Sheryll Patricia Smith, New Zealand (17.6471%) Stephen David Eichstaedt, New Zealand (11.7647%) David John Gibbins, New Zealand (11.7647%) |
| Background | The Applicant undertakes investment into agricultural and related businesses worldwide, in particular dairy farming in Australia and New Zealand and beef farming in Brazil. The Applicant proposes to acquire the land known as Waicola Dairy Farm which comprises two parcels. The smaller block is presently used as a run-off and support to the larger dairy block. The acquisition is part of the Applicant's strategy to invest in agricultural properties that have the potential to improve profitability through further investment and improved 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 Overseas Investment Regulations 2005 |
| More information | Charlie Brown Rhodes & Co. PO Box 13444 CHRISTCHURCH |