Overseas investment decision for case 200620086 - Blackfish Limited

1. an interest in land which, either alone or together with any associated land of that type, exceeds 0.4 hectares and is or includes land held for conservation purposes under the Conservation Act 1987; and
2. 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; and
3. an interest in land which, either alone or together with any associated land, exceeds 0.4 hectares and adjoins land held for conservation purposes under the Conservation Act 1987 (if that conservation land exceeds 0.4 hectares in area).

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.

Blackfish Limited (Blackfish) proposes to acquire the business and assets of Porter Heights Ski Area Limited which includes the Porter Heights ski area (Porter Heights) located on the southern end of the Craigieburn Range approximately 1 hours drive west of Christchurch. Blackfish is proposing to introduce additional investment for development purposes to redevelop the Porter Heights ski area, particularly for visitor accommodation, to further cater for the demand for high quality alpine skiing and on-site accommodation in New Zealand.

The proposal is likely to result in the following benefits:

1. the creation of new job opportunities in New Zealand;
2. increased productivity in New Zealand; and
3. the introduction into New Zealand of development investment for development purposes.