Applicant
Solomons Island Winery (NZ) Limited
Case number(s)
200910050
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date13 May 2009
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 42.4642 hectares of land at Dakins Road, Gladstone, Wairarapa.
ConsiderationCONFIDENTIAL
ApplicantSolomons Island Winery (NZ) Limited
United States of America (100.0%)
VendorMebus Estate Limited
New Zealand (100.0%)
Background

The Applicant wishes to acquire the relevant land to continue and further develop the vineyard and winery operation presently being conducted on the land.

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)(iii) – Increased export receipts
17(2)(a)(iv) – Added market competition/Productivity
17(2)(a)(v) – Additional investment for development purposes
17(2)(a)(vi) – Increased processing of primary products

Overseas Investment Regulations 2005
28(b) – Key person in a key industry
28(c) – Affect image, trade or international relations

More informationHamish Gordon
Nowland Gordon & Associates
P O Box 170
WELLINGTON 6140