| Decision number | 200610056 |
|---|---|
| Application number | 200610039 |
| Date | 15 May 2006 |
| Offeror/applicant | Kingma (Jan Marten) of Netherlands |
| Ultimate applicant beneficial ownership | 100 percent - Netherlands |
| Beneficial overseas ownership | |
| - Asset current | 0 percent |
| - Asset proposed | 100 percent |
| - Share current | N/A |
| - Share proposed | N/A |
| Offeree(s)/seller(s) | Kapuka Farm Limited 50 percent - New Zealand, van der Helm (Joacobus Geradus and Greetje) 50 percent - New Zealand, Meyers (Pieter and Jacoba Cornella) and Bruin (Robertus Laurentius) as trustees of the Farm View Trust |
| Business activities | Agriculture - Dairy Farming |
| Details of land involved | 298.1709 hectares of freehold situated at Kapuka, Invercargill being CTs SL183/156, SL2A/1171, and SL12A/415 (Southland Registry). |
| Regions involved | Southland |
| Total consideration | $6,413,690 |
| Consent sought | To acquire an interest in land which, either alone or together with any associated land of that type, is or includes non-urban land and exceeds 5 hectares in area. |
| Rationale | The application has been approved as it met the criteria. The Overseas Investment Office is satisfied that the individuals with control of the Applicant collectively have business experience and acumen relevant to the overseas investment, and that the Applicant has demonstrated financial commitment towards the overseas investment. The Overseas Investment Office is further satisfied that each individual that exercises control over the Applicant is of good character and is not an individual of the kind referred to in section 7(1) of the Immigration Act 1987. The Applicant, who is experienced in the dairy industry in the Netherlands, proposes to acquire the subject dairy farming property. The land contains a 175 hectare dairy farm and 122 hectares utilised as a run-off. The Applicant proposes to establish a facility to import and propagate European genetics into the New Zealand dairy industry. An intensive commercial breeding and rearing enterprise will be established to offer contract mating facilities for dairy farmers. The proposal is likely to result in the following benefits:
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| Contact | J F C Henderson Evans Henderson Woodbridge P O Box 326 MARTON |