Decision number | 200810031 |
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Application number | 200810027 |
Date | 1 April 2008 |
Offeror/applicant | Tourism Holdings Limited |
Ultimate applicant beneficial ownership | 57.9 percent -New Zealand, New Zealand Public |
Beneficial overseas ownership | |
- Asset current | 0 percent |
- Asset proposed | 42.1 percent |
- Share current | N/A |
- Share proposed | N/A |
Offeree(s)/seller(s) | Star Design Furniture Limited 100 percent - New Zealand |
Business activities | Manufacturing -Machinery & Equipment |
Details of land involved | 0.9483 hectares of leasehold situated at 37 Kaimiro Street, Pukete, Hamilton being CT SA59D/817 (South Auckland Registry). |
Regions involved | Waikato |
Total consideration | $247,500 |
Consent sought | To acquire an interest in land which, either alone or together with any associated land, exceeds 0.4 hectares and adjoins land that is listed, or in a class listed, as a reserve, a public park, or other sensitive area by the regulator under section 37. |
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. Background to the Investment: The Investment: Rationale for the Investment: The proposed overseas investment will or is likely to benefit New Zealand (or any part of it or group of New Zealanders) having regard to the following benefits: Overseas Investment Act 2005: |
Contact | Jonathan Mitchell/Julie Nisbet Russell McVeagh P O Box 8 AUCKLAND |