Overseas investment decision for case 200520058 - Nobilo Wine Group Limited

The application has been approved as it met the criteria.

The Overseas Investment Office is satisfied that the applicant has significant business experience and acumen relevant to and is demonstrating financial commitment towards the investment. The Overseas Investment Office is further satisfied that the persons who exercise control over the applicant are of good character and not the kind of persons referred to in section 7(1) of the Immigration Act 1987.

The Applicant (Nobilo) proposes to acquire the subject property and the adjoining property (refer A200520075 which is owned by a company in which the vendor of the subject land holds 73.9 percent of the shares). The properties have been developed as vineyards. The land contains 33 hectares planted in Sauvignon Blanc in 1996, 2000 and 2004, 3.4 hectares planted in Chardonnay in 1996, and 5.4 hectares planted in Riesling in 1996. The land adjoins land that is leased by Nobilo. The proposed acquisition will augment Nobilo's grape supply ensuring a long-term supply of grapes required to meet export demand.

The proposal is likely to result in the following benefits:

1. the creation of new job opportunities;
2. the introduction of additional investment for development purposes;
3. increased efficiencies to Nobilo's viticultural business; and
4. increased processing of primary products.