Applicant
Willow Bay Company Limited
Case number(s)
200910087
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date15 July 2009
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 45.3770 hectares of land at 290A Hereputu Road, Matata.
Consideration$838,125
ApplicantWillow Bay Company Limited
United States of America (100.0%)
VendorCasofilia Trust
New Zealand (100.0%)
Background

The Applicant proposes to improve the farm by fertilising it and creating a herd of Simmental cattle ultimately numbering 100 head.

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)(ii) – New technology or business skills
17(2)(a)(iv) – Added market competition/productivity
17(2)(a)(v) – Additional investment for development purposes
17(2)(b) – Indigenous Vegetation/Fauna

More informationCaroline Tate
Cooper Rapley (Feilding)
PO Box 303
FEILDING