Applicant
Foster's New Zealand (Matua) Limited
Case number(s)
200821659-1
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date30 March 2009
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 39.8476 hectares of land at Redwood Pass Road, Awatere Valley, Marlborough.
ConsiderationCONFIDENTIAL
ApplicantFoster's New Zealand (Matua) Limited
Australia (37.0%)
Various (35.0%)
United States of America (15.0%)
United Kingdom (except Isle of Man and the Channel Islands) (13.0%)
VendorDuelling Banjos Limited
New Zealand (100.0%)
Background

The vineyard is being acquired to give the Applicant a more reliable supply of grapes.

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)(iii) – Increased export receipts
17(2)(a)(iv) – Added market competition/Productivity

Overseas Investment Regulations 2005
28(b) – Key person in a key industry
28(e) – Previous investments
28(g) – Enhance the viability of other investments

More informationClaire Mills
Radich Law
PO Box 842
Blenheim